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New Delhi [India], May 24 (ANI): <keyword id="21790772" type="General" weightage="20" keywordseo="Indias-data-centre-industry" source="Orion">India's data centre industry</keyword> to attract an investment of USD 5.7 billion by 2026 amid the growing demand for <keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword> (<keyword id="107950" type="General" weightage="20" keywordseo="artificial-intelligence" source="Orion">Artificial Intelligence</keyword>), says a report by real estate and investment management company, JLL. The report highlights that India's <keyword id="13391374" type="General" weightage="20" keywordseo="data-centre-industry" source="Orion">data centre industry</keyword> will add 791 MW capacity by 2026 and this expansion will lead to a demand of 10 million sq. ft of real state space. "The <keyword id="126804" type="General" weightage="20" keywordseo="data-centre" source="Orion">Data Centre</keyword> (DC) industry in India is set to witness remarkable growth, with projections of adding 791 MW capacity by 2026. This expansion will drive demand for 10 million sq. ft. of real estate space, attracting investments worth USD 5.7 billion" said the report. A data center is a facility that centralises an organisation's IT operations and equipment to store, process and transfer data and applications. The report highlights that growth in computing power and the resulting new applications are expected to drive strong demand for DC industry over the medium term. The expected demand of the Indian data centre industry to reach 650-800 MW during 2024-26. The surge in demand for data centres is primarily fuelled by the increasing adoption of Artificial Intelligence (AI). The report points out that Cloud Service Providers (CSPs), who essentially offer IT infrastructure systems primarily for data storage and computing power accessible through the Internet, have realigned their requirements to factor in AI-led demand. The CSPs have also announced higher investments to scale up AI-led growth. "The exponential growth in processing power and data volumes, driven by AI, necessitates the development of new data centres capable of meeting energy, processing, and cooling needs. The anticipated expansion and progression of diverse AI disciplines are projected to create additional demand for data centres, expanding their capacity requirements and advancing their capabilities" said Rachit Mohan, Head, Data Centre Advisory, India, JLL. According to the report in the second half of 2023, there was a 12 per cent increase in absorption to 81 MW compared to 72 MW during the same period last year. This growth can be attributed to cloud service providers (CSP) gaining momentum after a brief hiatus during the first half of 2023. In Mumbai, absorption nearly doubled during this period as CSPs renewed their pace of absorption. "India is poised to be the third-largest economy, with a projected USD 5 trillion GDP by 2027 with digital economy contribution of around 20 per cent. This digital expansion is anticipated to propel the growth of India's data centre industry, projected to increase from 853 MW in 2023 to 1,645 MW by 2026," said Dr. Samantak Das, Chief Economist and Head of Research &amp; REIS, India, JLL. There was a lower supply addition of 75 MW during H2 2023 as the available supply from the first half was utilised to meet the demand, resulting in tighter vacancy levels of 5.5 per cent. With a large user market, talented workforce, and thriving startup ecosystem, India presents a significant opportunity to emerge as a global data hub, driven by sustainable practices. The country's DC sector expanded from 350 MW in 2019 to 854 MW in 2023, in line with the increasing digital usage trends.

Amid growing demand for AI, India's Data Centre boom to drive USD 5.7 billion investments by 2026: JLL

Net leasing of office space fell 34 per cent in January-March to 7.63 million square feet across seven major cities as corporates were cautious about expansion amid global uncertainties, according to <keyword id="484198" type="General" weightage="100" keywordseo="jll-india" source="Orion">JLL India</keyword>. The net leasing fell to the lowest in six quarters, as per the data by real estate consultant JLL India. Net leasing stood at 11.55 million square feet in the year-ago period across seven cities - Delhi-NCR, Mumbai, <keyword id="12864" type="General" weightage="50" keywordseo="chennai" source="Orion">Chennai</keyword>, <keyword id="6354925" type="General" weightage="80" keywordseo="kolkata" source="Orion">Kolkata</keyword>, <keyword id="6354321" type="General" weightage="50" keywordseo="bengaluru" source="Orion">Bengaluru</keyword>, Hyderabad and <keyword id="2094" type="General" weightage="50" keywordseo="pune" source="Orion">Pune</keyword>. JLL India attributed the fall in net leasing or absorption of office space to reduced expansion activity, delayed space plans and a hybrid workplace strategy that is still evolving. "Companies were consolidating and relocating to save on real estate costs, while there were fewer pre-commitments in new completions during the quarter. This reflects the challenges faced by the corporate world amid global headwinds and an uncertain business environment," it explained. Net leasing fell in Chennai, Hyderabad, Mumbai and Pune, while absorption rose in Delhi-NCR, Bengaluru and Kolkata. Net absorption is calculated as the new floor space occupied less floor space vacated. Floor space that is pre-committed is not considered to be absorbed until it is physically occupied. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/the-alpha-creators-bank-and-it-stocks-outperform-nifty50-in-the-last-11-years/articleshow/99114789.cms">The Alpha Creators: Bank and IT stocks outperform Nifty50 in the last 11 years</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/microfinance-lending-shows-strong-growth-in-2022-nbfc-mfis-dominate-the-market/articleshow/99112629.cms">Microfinance lending shows strong growth in 2022, NBFC MFIs dominate the market</a>

Net office leasing drops 34% in Jan-Mar to six-quarter low across top 7 cities: JLL India

The rise in <keyword id="6468581" type="General" weightage="20" keywordseo="housing-prices" source="Orion">housing prices</keyword> and mortgage rates have impacted affordability levels to buy homes in the last two years across seven major cities but it may improve next year due to a likely reduction in repo rate, according to JLL India. The improvement in affordability levels would further boost housing sales, which have risen despite increases in property prices and interest rates on home loans. The consultant on Sunday released its 'Home Purchase Affordability Index' (HPAI), which signifies whether a household earning an average annual income (at an overall city level) is eligible for a housing loan on a property in the city at the prevailing market price. "The rising repo rate in 2022 as the RBI reacted to the global recessionary and inflationary trends, plus a strong demand recovery spurring price hikes, worsened affordability in 2022," the report said. In 2023, the consultant said that affordability levels are likely to marginally worsen or remain the same when compared to 2022. A stronger price increase has been countered by stagnancy in repo rate movement, declining <keyword id="22195" type="General" weightage="20" keywordseo="inflation" source="Orion">inflation</keyword> and relatively higher growth in household incomes, the consultant explained. "In 2024, we are likely to see a renaissance with affordability levels expected to be on an improving trajectory as <keyword id="493702" type="General" weightage="20" keywordseo="macroeconomic" source="Orion">macroeconomic</keyword> fundamentals support a repo rate reversal and thereby interest rate reduction that could provide another fillip to the residential sales market," the report said. JLL expects a 60-80 basis points reduction in repo in the next year. It has derived this index through a combination of variables, which include home loan interest rates, average household income and price of the residential apartment. The HPAI is the ratio of the average household income to the eligible household income. Eligible household income is defined as the minimum income that a household should earn to qualify for a home loan on a 1,000-square-foot apartment at the prevailing market price. A value of 100 means that a household has exactly enough income to qualify for the loan. A value less than 100 implies that an average household does not have enough income to qualify for a housing loan. A value of more than 100 implies that an average household has more than enough income to qualify for a home loan. As per the data, the affordability index in Mumbai is estimated to dip to 88 from 92. In Delhi NCR, the index is seen declining to 121 from 125. The Index of Bengaluru is estimated to have dipped to 158 from 168. The index in Hyderabad is seen at 169 against 174 last year. Pune will witness a marginal fall to 182 from 183, while Kolkata will see a marginal improvement to 194 from 193. The affordability index of Chennai is estimated to be flat at 162 this year. JLL India noted that affordability was at its lowest in 2013 before rising on a sustained basis through 2014 to hit optimal levels in 2021. "Despite residential price hikes being sustained in 2023, better economic and job prospects and healthier income growths compared to 2022 have led to a relatively minor dip in affordability in 2023. "In fact, affordability levels remain much above the pre-COVID and worst affordability periods for all cities, clearly highlighting the headroom for market growth to continue," said Siva Krishnan, Managing Director and Head of Residential Services, India, JLL.

Affordability levels to buy homes hit in last 2 years; to improve in 2024 on likely repo rate cut: JLL

<keyword id="6358070" type="General" weightage="100" keywordseo="mumbai" source="Orion">Mumbai</keyword>, <keyword id="13749453" type="General" weightage="20" keywordseo="housing-sales-in-mumbai" source="Orion">Housing sales in Mumbai</keyword> are likely to cross Rs 1 lakh crore this calendar year and may breach the Rs 2 lakh crore-mark in 2030 on rising demand, according to a report. Realtors body <keyword id="6404896" type="General" weightage="80" keywordseo="naredco" source="Orion">Naredco</keyword>'s Maharashtra chapter and property consultant JLL India on Friday released a report "Unlocking Opportunities with Infrastructure Development" here. The report noted that Mumbai maintains its position as one of India's largest residential markets, contributing 40 per cent to the total residential sales value in the country. In number of units, the Mumbai market accounts for 25 per cent of total sales volume across seven cities. "The market has witnessed a strong recovery in sales with 2022 surpassing 2018 both in terms of sales value and sales volume," the report said. In 2023, sales of residential units in Mumbai are expected to increase further. "Residential sales value is likely to breach the Rs 1 lakh crore mark." Sales would breach the Rs 2 lakh crore mark in 2030, the consultant estimated. Mumbai witnessed sales of Rs 90,552 crore during the 2022 calendar year and Rs 50,075 crore in the first half of this calendar year. Pre-Covid, the housing sales in Mumbai stood at Rs 60,928 crore in 2019 and Rs 66,820 crore in 2018. Mumbai city has demonstrated a robust recovery in 2022, witnessing an increase in both sales value and volume. "Maharashtra is amid a remarkable transformation driven by the visionary approach of its government towards infrastructure development. The opportunities that lie before us are boundless, and it is our shared responsibility to harness them, for the betterment of the state and the advancement of the real estate sector," Sandeep Runwal, President of NAREDCO Maharashtra and MD of Runwal Developers, said. Karan Singh Sodi, Senior Managing Director, Mumbai, MMR, India, JLL, said individuals have a preference for staying close to office markets. "Owing to this, residential clusters in proximity to office markets have flourished and attracted steep prices whereas those with limited connectivity have trailed," Sodi said. During the past three years, Mumbai's housing market, particularly in the luxury segment, has demonstrated a consistent upward trajectory, Ashwin <keyword id="297510" type="General" weightage="50" keywordseo="chadha" source="Orion">Chadha</keyword>, CEO of India Sotheby's International Realty, said. "The surge in demand has propelled both supply and prices, leading to an anticipated expansion in market size," Chadha said.

Housing sales in Mumbai likely to cross Rs 1 lakh cr this year: Naredco-JLL

New Delhi, <keyword id="19156935" type="General" weightage="20" keywordseo="Sales-of-Apartments" source="Orion">Sales of apartments</keyword> during the January-September period went up 21 per cent year-on-year to 1,96,227 units across seven major cities on better demand, according to property consultant JLL India. As many as 1,61,575 units were sold in the same period last year. Sales of apartments in January-September period of this year have already touched 91 per cent of 2022 annual sales. "With the onset of the festive season, robust sales are expected in the upcoming quarter and as a result, annual sales in 2023 are expected to surpass sales of 215,000 units recorded in the previous year," JLL India said in a statement on Monday. Across seven major cities, new launches of apartments also rose 21 per cent to 2,23,905 units during the first nine months of 2023 from 1,84,317 units in the year-ago period. The seven cities tracked were Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, and Pune. Mumbai includes Mumbai city, Mumbai suburbs, Thane city, and Navi Mumbai. JLL said the data includes only apartments and row houses, villas, and plotted developments are excluded from this analysis. "The prominent launches by branded developers saw good sales traction across all seven cities. Also, the consecutive fourth pause in policy rate by the RBI will have a positive impact on residential sales as financial institutions will maintain the home loan interest rates at the present levels," said Siva Krishnan, head, residential, India, JLL.

Sales of apartments in Jan-Sep up 21% to 1,96 lakh units in top 7 cities: JLL

<ul><li>Ever since the government announced the nationwide lockdown on March 24, the unemployment rate in India remained high at over 20%, according to <keyword id="9267267" type="COMPANY" weightage="20" keywordseo="the-centre-for-monitoring-indian-economy">the Centre for Monitoring Indian Economy</keyword> (CMIE). </li><li>The job loss and pay cuts will impact the <keyword id="400812" type="PERSON" weightage="20" keywordseo="senior-executives">senior executives</keyword> the most, according to Rituparna Chakraborty, EVP &amp; co-founder at TeamLease Services. </li><li>This week, Business Insider brings job openings across companies for executive roles like VPs, SVPs, and Business Heads.</li></ul>The COVID-19 pandemic has cost many Indian employees their jobs and salaries. Ever since the government announced the nationwide lockdown on March 24, the unemployment rate in India remained high at over 20%, <a href="https://www.businessinsider.in/careers/news/india-unemployment-worsens-cmie-jobless-rate-spikes/articleshow/75989712.cms">according to</a> the Centre for Monitoring Indian Economy (CMIE). Since there is uncertainty around Covid-19 and its possible impact, more pay cuts and job cuts are in the offing. On both fronts, the <a href="https://www.businessinsider.in/business/corporates/news/infosys-reportedly-plans-to-reduce-the-number-of-managers-the-ceo-and-coo-got-over-25-salary-raise-in-fy20/articleshow/76127600.cms">senior executives are the most impacted</a>. Rituparna Chakraborty, EVP &amp; co-founder at TeamLease Services told Business Insider that organisations will implement a ‘balanced approach’ while deciding on who will get impacted by the move to cut wages. “In all possibilities, the senior officials shall bear more of the brunt than others,” she said. Every week, Business Insider collates interesting vacancies across marquee organisations. A few such vacancies are listed here. This week we bring job openings across companies for executive roles like VPs, SVPs, and Business Heads. Here are a few of those opportunities: Barclays Position: Vice President Location: Chennai Experience: Relevant experience in the banking industry Eligibility: Bachelor’s degree Barclays is looking for an experienced banking operations manager to join as the Vice President. The selected hire will work on trade settlements, critical payments and confirmations. He will review the risk factors in the operational process. The selected data scientist will also be responsible for the development and implementation of policies and procedures, thereby ensuring that all the compliance, risk policies and procedures are followed. To apply for the job, the candidate must have a strong understanding of the end-to-end processes in the confirmations and settlements. He should be a team player, along with excellent communication skills. Interested candidates can apply <a href="https://www.linkedin.com/jobs/view/1862499301/">here</a>. SAIF Partners Position: Vice President - Marketing Location: Gurgaon Experience: Not specified Eligibility: Not Specified Private equity firm SAIF Partners is hiring a digital marketing head for one of its companies based in Gurgaon. The candidate will work on the development and execution of business strategies by improving brand performance. He will chalk out the strategy for consumer marketing and digital marketing. This includes paid search, social advertising, inbound calling, email, webinars, mobile calling campaigns and more. To apply, the candidate must have experience in direct marketing and analytics along with email, display advertising, affiliate, SEO/SEM and social media skills. Interested candidates can apply <a href="https://www.linkedin.com/jobs/view/1619041529/">here</a>. Mastercard Position: Associate Managing Consultant Location: Gurgaon Experience: Relevant experience at CXO level, specifically in strategy consulting Eligibility: Master’s degree or higher Mastercard is hiring a managing consultant, who is experienced in strategy consulting and has worked at a CXO level before. The selected hire will work as a digital strategy development lead to create design patterns that can be used for customers. The consultant will help develop capability frameworks to drive customers. He will work with consultants globally and lead a team of internal consultants to develop the company’s digital strategy. The applicants must have experience in digital payments and handling clients. Interested candidates can apply <a href="https://www.linkedin.com/jobs/view/1862620964/">here</a>. Morgan Stanley Position: Analytics - Vice President Location: Mumbai Experience: Minimum 10 years with exposure to coding languages Eligibility: Master’s degree in Finance or Engineering related areas; CFA or FRM Morgan Stanley is looking for Vice President - Analytics for its Portfolio Analytics group. The selected candidate will be expected to understand portfolio performance, risk and other analytics applications. The role includes supervision and guidance to the team to ensure timely deliveries to all clients, engaging with stakeholders. The VP will help build new analytical tools for the company, along with maintaining the existing ones. He will also perform risk analysis and performance evaluation. To apply for the job, the candidate must have analytical and problem-solving abilities, along with the understanding of equities, fixed income. He should have experience in coding languages like Excel-VBA or R. Interested candidates can apply <a href="https://www.linkedin.com/jobs/view/1877032440/">here</a>. JLL Position: Director - Planning Location: Chennai Experience: Minimum 10 years in planning, construction or project management Eligibility: Degree in any property-related discipline Global real estate firm JLL is looking for a director for project and development services in India. The hired candidate will be responsible for the overall project planning and guiding the teams to help them meet the clients’ expectations. The planning director will be required to submit monthly reports, and monitor project budgets. This will include project planning, scheduling, monitoring, budgets and contract administration. He will also be responsible to develop and manage engineering and construction schedules and inspect projects including material, workers, machinery, equipment and engineering staff. To apply for the job, the candidate must have good communication skills so as to deal with business owners and other senior executives. Interested candidates can apply <a href="https://www.linkedin.com/jobs/view/1810889273/">here</a>.

You Searched For "JLL India" and got 6 results

Amid growing demand for AI, India's Data Centre boom to drive USD 5.7 billion investments by 2026: JLL

ANI

Net office leasing drops 34% in Jan-Mar to six-quarter low across top 7 cities: JLL India

PTI

Affordability levels to buy homes hit in last 2 years; to improve in 2024 on likely repo rate cut: JLL

PTI

Housing sales in Mumbai likely to cross Rs 1 lakh cr this year: Naredco-JLL

PTI

Sales of apartments in Jan-Sep up 21% to 1,96 lakh units in top 7 cities: JLL

PTI

Barclays, Morgan Stanley, JLL and others hiring senior executives during the coronavirus lockdown

Prerna Sindwani

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