The second edition of the prestigious Property Awards 2011, recognising excellence in Commercial Real Estate was a grand success with participation from leading developers and other real estate professionals. The evening at Westin Hotel, Mumbai on December 13, 2011 saw developers and architects of state- of -the -art projects emerge winners.

The transaction costs of financial services to the poor are ‘exceedingly large' in comparison to their revenue generation potential in the short term, according to Mr Anand Sinha, Deputy Governor, Reserve Bank of India. Speaking after presenting the banking technology awards of the Institute for Development and Research in Banking Technology (IDRBT), Mr Sinha said the existing banking business model was not able to adequately address challenges like high transaction costs.

At least two ministries have raised fears of Chinese goods flooding shelves in retail chains if the doors are opened to foreign players to set up multi-brand stores in the country. The concern has prompted the government to work out a safety valve for the much-awaited FDI in retail to go through.

Realty firm Phoenix Mills Ltd plans to buy underperforming malls and turn them around to attempt becoming the largest mall developer in India. “Acquisition is going to be a route for us. We are under-leveraged right now. We will look at under performing assets that are leaders in the market that they are in and buy them,” Phoenix Mills managing director Atul Ruia said. Mr Ruia did not specify the size of acquisitions and source of funds.

The fourth edition of The India Shopping Centre Forum (ISCF), the mega congregation of Shopping Centre Developers & Retailers, opened with an in-depth deliberation amongst industry leaders on the key challenges faced by the sector and the way forward for retail industry especially shopping centres.