Coimbatore on the Rise: Emerging Favourable Market Conditions Drive Real Estate Development

Coimbatore, Tamil Nadu's second fastest developing industrial city, is witnessing high-quality real estate development as local and national builders expand aggressively to capitalize on the emerging favourable market conditions. A recent study by Jone Lang Lasalle highlights the city's potential for growth, driven by its textile industries, excellent infrastructure, and government initiatives. The study notes that Coimbatore has over 50,000 small, medium, and large-scale industries serving the engineering needs of the country, and the government is taking steps to develop the city as a prominent tier-II destination for information technology.

Key Takeaways:

• The study highlights Coimbatore's potential for growth, driven by its textile industries, excellent infrastructure, and government initiatives.
• The city has over 50,000 small, medium, and large-scale industries serving the engineering needs of the country.
• The government is taking steps to develop Coimbatore as a prominent tier-II destination for information technology.
• The migration of top multi-nationals into the city is driving growth in retail, hospitality, entertainment, and residential sectors.
• The city is expected to add close to one lakh jobs in the next 4-5 years, contributing to the growth in per capita income.
• The office market in Coimbatore is primarily driven by the IT/ ITeS, banking, textile, and auto ancillary industries.
• The residential market in Coimbatore is driven by the growth of IT/ ITeS and other domestic industries, with a future supply of over 3300 dwelling units by the end of 2010.
• The retail market in Coimbatore is segmented into high streets and retail malls, with prime retail activity around the south eastern part of the city.
• The hospitality sector in Coimbatore is dynamic, with 60% occupancy rate during the off-peak season and 90% during peak season.

Statistics:

• Over 50,000 small, medium, and large-scale industries in Coimbatore.
• 1 lakh jobs expected to be added in Coimbatore in the next 4-5 years.
• 3300 dwelling units to be supplied in Coimbatore by the end of 2010.
• 1100 dwelling units proposed in Coimbatore.
• 60% occupancy rate in hotels during off-peak season.
• 90% occupancy rate in hotels during peak season.

Sources:

• "Coimbatore on the Rise: Emerging Favourable Market Conditions Drive Real Estate Development" by Jones Lang Lasalle
• "The Indian Express Limited, distributed by Contify.com" (Copyright 2009)