Sun Sep 15 12:37:15 UTC 2024: ## Bharti Real Estate Buck Trend, Stays Focused on Delhi-NCR

**Mumbai/New Delhi:** While many real estate companies are expanding their operations across India, Bharti Real Estate has chosen to stick to its home turf of Delhi-NCR. The company is currently focusing on developing a $2 billion Global Business District at Worldmark Aerocity near Delhi airport.

The decision comes amidst a booming real estate market across India, with Hyderabad and Mumbai recording record high housing sales in the first half of 2024. Despite the growth, Delhi-NCR saw a 4% drop in sales, which Bharti attributes to rising prices and a lack of ready-to-move-in inventory.

S.K. Sayal, CEO and MD of Bharti Real Estate, stated that the company is focused on the North of India and will continue to invest in the region, especially Delhi-NCR, in the near-to-medium-term. He cited a deeper understanding of the local market as a key advantage to staying within the region.

Bharti’s $2 billion project is expected to be completed in multiple phases, with the first phase already finished and phase two commencing delivery from June next year. The company plans to build a total of 17 million square feet of office space, adding to the existing 1.5 million square feet.

Industry experts, such as Pradeep Mishra, CMD at Oram Developments, believe that focusing on a home region allows for a better understanding of local factors and can be a successful strategy, especially for companies with strong presence in the market.

However, other real estate giants like Prestige Group, DLF Ltd, and Godrej Properties are expanding their operations nationwide, entering new markets like Mumbai, Goa, and Tier II cities in South India.

While Bharti Real Estate is taking a different approach, the overall real estate sector is flourishing. The demand for both residential and commercial spaces is strong, fuelled by a growing economy and increasing investments in infrastructure.

The country’s commercial real estate market, valued at $40.71 billion, is expected to grow to $106.05 billion by 2029, according to a July 2024 report by Assocham.

As the real estate sector continues to evolve, Bharti Real Estate’s strategic decision to focus on its home market will be closely watched to see if it proves to be a winning strategy.

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