Friday, 17 January 2020

MGTO presents The Parade for Celebration of the Year of the Rat to share blessings on 3rd Day and 8th Day of Lunar New Year

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~The “Parade for Celebration of the Year of the Dog” brings joyful celebrations to all
on 3rd Day and 8th Day of Lunar New Year~ 
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Mumbai, 16th January 2019: Macao Government Tourism Office (MGTO) will present the mega celebration event — “Parade for Celebration of the Year of the Rat” at the central and northern districts on the 3rd day (27 January) and 8th day (1 February) of Lunar New Year respectively to celebrate the joyful occasion with residents and visitors. The event features a range of spectacular activities including float parade, mega performances, fireworks display, float exhibition, Favourite Parade Float Voting and more.
 The “Parade for Celebration of the Year of the Rat” (the “Parade”) is organized by MGTO and co-organized by Municipal Affairs Bureau, Cultural Affairs Bureau and Sports Bureau, as well as sponsored by Asia Tourism Exchange Center. A press conference for the event was held today (8 January) to unveil the event program. MGTO Acting Director Cheng Wai Tong and Deputy Director Ricky Hoi, Assistant Director of Asia Tourism Exchange Center, Li Wen Pei, Vice President of Cultural Affairs Bureau, Chan Kai Chon, Head of Department of Civic Affairs and Consultation of Municipal Affairs Bureau, Patsy Ko Pui San, and Head of Sports Facilities Management Department of Sports Bureau, Ho Wa, were present in the press conference together with representatives of the supporting and sponsoring entities.
For the upcoming Chinese New Year, MGTO has tailored an array of celebrations for residents and visitors. With both the double first solar terms and an intercalary month falling on the Geng-Zi Year of the Rat, 2020 is considered a blissful year for tying the knot. As a major highlight during Chinese New Year, the “Parade for Celebration of the Year of the Rat” will be themed around a story of the Rats’ splendid wedding. Delivering the story through a confluence of aerial dance and acrobatics, the Parade will be unveiled on the third night of Chinese New Year to extend blissful wishes for spectators. Performance teams from near and afar will also perform at major tourist attractions during Chinese New Year for a close encounter with residents and visitors.
In speaking at the press conference, MGTO Acting Director Cheng Wai Tong stated that Macao boasts a year-round calendar of diverse and spectacular events and festivals, which not only manifests the harmonious flourishment of diverse cultures in the city but also offers great opportunities for residents and visitors to create wonderful memories with their dearest ones. He hopes that this annual event which carries on traditional Chinese culture can let everyone experience a rich ambience of Spring Festival in Macao.
Fireworks add festive joy on 3rd day of Lunar New Year
The first round of the Parade will feature a range of elements including aerial acrobatics, float parade, procession of performance groups and fireworks display. At 8 p.m. on the 3rd day of Lunar New Year, an aerial acrobatics show will lift the curtain on the Parade. Joined by a total of 34 local and international performance groups, 18 dazzling auspicious floats will then set off from Sai Van Lake Square before Macau Tower, march along Avenida Dr. Sun Yat-Sen on Macao Peninsula until the destination at Macao Science Center. Starting from 5:30 p.m., warm-up performances will take place at intervals, featuring artists from Macao and Hong Kong including Selena Lee, Paisley Hu and Mandy Wong, among others. A 15-minute fireworks display will take place above the sea area overlooked by Macau Tower at 9:45 p.m.
For the convenience of residents and visitors, MGTO will operate free shuttle bus service around multiple routes between event locations and various districts in Macao Peninsula, Taipa and Coloane. Starting from 8 p.m. on the night, MGTO will live broadcast the Parade on LED screens set up at multiple locations in the city. In addition, TDM and Macao Cable TV will live broadcast the Parade on the 3rd day of Lunar New Year.
The Parade will fill Northern District with good luck on 8th day of Lunar New Year
There will be another float parade and finale show of cultural performances on the 8th day of Lunar New Year. At 8 p.m., 18 floats will set off from Rua Norte do Patane to march along Avenida do Conselheiro Borja, Estrada do Arco, Estrada da Areia Preta, Avenida de Venceslau de Morais, Rua Quatro do Bairro da Areia Preta, Avenida da Longevidade, Rua do Mercado de Iao Hon until the finishing point at Iao Hon Market Garden, where artists from Macao and Hong Kong including Louis Yuen, Germano Guilherme, Elise Lei, Elvin Chio, BoBo Chan and Kenny Lei will dazzle the finale show among others.
Vote for your favourite float to win attractive prizes
By scanning QR codes on the floats, residents and visitors can access the voting platform for the activity “Favourite Parade Float Voting”, vote for their favorite floats and submit their personal information, to enter the grand lucky draw for chances to win attractive prizes including air tickets, hotel accommodation, ferry tickets, Smart TVs and smartphones, etc.
A close encounter with beautiful floats for abundant blessings
18 splendid floats are presented by the following entities: Asia Tourism Exchange Center, Macao Government Tourism Office, Municipal Affairs Bureau, Cultural Affairs Bureau, Sports Bureau, Sociedade de Jogos de Macau, S.A., Tak Chun Group, Suncity Group, Meg-Star Group, Wynn Macau, Limited, Galaxy Entertainment Group, MGM, David Group, Melco Resorts & Entertainment Limited, Sands Resorts Macao, UO Group, Chimelong Tourist Resort and Multinational (Holdings) Group. The floats will be on display at the seafront of Macao Science Center from 27 January (10 p.m.) to 1 February (5 p.m.), and following that, on display at Tap Seac Square from 1 February (10 p.m.) until 8 February (6 p.m.). Local residents and visitors can freely enjoy the sight of the floats.

For event details, please visit http://www.macaotourism.gov.mo or follow MGTO's WeChat ID “MGTOweixin”.

Wednesday, 15 January 2020

Housing sales fell 30%; new launches decline 44% in Q3FY20: PropTiger report





New Delhi, 14th Jan 2020: New project launches in India’s nine key residential markets continued to show a decline, falling 44 per cent year-on-year in the period between October and December 2019, primarily on liquidity concerns, shows the report by PropTiger.com, part of Elara Technologies, that also owns Housing.com and Makaan.com.
According to “Real insight Q3FY20”, a quarterly analysis of India’s nine key property markets by PropTiger DataLabs, the ongoing industry concerns related to the NBFC sector, on which real estate developers largely depend on for their financial needs, has made borrowing difficult for builders at a time when a demand slowdown has hit housing sales. This double whammy has resulted in developers continuing to show a cautious stance towards new project launches. 
“The various measures launched by the government in the recent past to revive growth in the real estate market seem to have made little impact. Considering real estate is a major contributor to overall GDP, which hit a glacial 4.5 per cent rate of growth in the July-September period, we expect further assistance from the government, which would nudge buyers to invest in real estate. In the Union Budget scheduled to be released on 1st February, we expect the Hon’ble Finance Minister to announce measures that would result in higher savings for individual taxpayers, some of which would hopefully make its way towards property purchases,” said Dhruv Agarwala, Group CEO, Elara Technologies, the country’s only full stack real estate technology platform that owns Housing.comMakaan.com and Proptiger.com
Sales fell across cities
Housing sales in India’s nine key property markets fell 30 per cent annually during the October-December quarter despite the government launching several measures in the recent past to revive buyer sentiment. As against 91,464 units sold during the quarter last year, only 64,034 homes were sold across the nine markets in Q3 this year.

Mumbai contributed nearly 40 per cent to overall sales numbers. 

What points towards a nation-wide phenomenon, sales declined across all these markets, with Bengaluru, popularly known as India’s Silicon Valley, registering a 50 per cent fall in sales numbers.  

When compared to the first nine months of the previous financial year, sales fell by 13 per cent during the same period in the current fiscal. As against 263,294 units last year, only 228,220 housing units were sold this year.

Units Sold
Growth
City


Q3FY19
Q4FY19
Q1FY20
Q2FY20
Q3FY20
YoY (%) Q3vsQ3
QoQ (%) Q2vsQ3
Ahmedabad
5,960
6,414
6,479
5,578
5,118
-14%
-8%
Bangalore
10,299
10,092
9,600
8,425
5,155
-50%
-39%
Chennai
4,467
4,605
4,571
3,772
3,015
-33%
-20%
Gurgaon
4,069
6,970
5,880
3,581
3,834
-6%
7%
Hyderabad
7,869
8,857
7,723
7,002
4,372
-44%
-38%
Kolkata
3,810
4,341
4,333
3,052
2,566
-33%
-16%
Mumbai
30,850
27,527
28,726
24,882
25,198
-18%
1%
Noida
4,556
4,148
3,627
3,038
2,830
-38%
-7%
Pune
19,584
17,911
18,034
15,883
11,946
-39%
-25%
Grand Total
91,464
90,865
88,973
75,213
64,034
-30%
-15%



Sold Units

City


Apr-Dec 18
Apr-Dec 19
YoY (%)
Ahmedabad
17,436
17,175
-1%
Bangalore
31,932
23,180
-27%
Chennai
14,011
11,358
-19%
Gurgaon
11,794
13,295
13%
Hyderabad
21,505
19,097
-11%
Kolkata
10,754
9,951
-7%
Mumbai
85,811
78,806
-8%
Noida
19,141
9,495
-50%
Pune
50,910
45,863
-10%
Grand Total
263,294
228,220
-13%

Inventory declined 12%
As buyers showed greater faith towards ready homes, inventory levels, declined 12 per cent during the quarter. From 8.83 lakh unsold housing units at the end of the same period last year, unsold stock fell to 7.75 lakh in Q3 FY20. Mumbai and Pune together contribute 57 per cent of this unsold stock.  Also, half of the units in this stock are affordable homes (units priced below Rs 45 lakh). 

At the current sales velocity, builders would take 29 months to sell off the existing stock.

Unsold Inventory
YoY (%) – Q3vsQ3
QoQ (%) Q2vsQ3
City
Dec/2018
Mar/2019
Jun/2019
Sep/2019
Dec/2019
Dec 19 Vs Dec 18
Dec 19 Vs Sep 19
Ahmedabad
60,015
57,220
52,294
50,690
48,367
-19%
-5%
Bangalore
86,335
83,447
80,520
79,046
79,496
-8%
1%
Chennai
36,642
37,344
35,384
33,304
33,694
-8%
1%
Gurgaon
46,364
44,469
44,522
44,199
42,071
-9%
-5%
Hyderabad
42,140
41,509
38,349
35,216
33,227
-21%
-6%
Kolkata
46,364
44,861
42,040
40,029
37,979
-18%
-5%
Mumbai
338,894
328,052
317,253
305,018
296,465
-13%
-3%
Noida
67,991
65,577
63,847
61,545
59,261
-13%
-4%
Pune
158,738
155,679
151,842
148,676
144,300
-9%
-3%
Grand Total
883,483
858,158
826,051
797,723
774,860
-12%
-3%

Over 5 lakh new units to be delivered in CY2020
A total of 5.33 lakh units were delivered across the nine markets in calendar year 2019, and another 5.45 lakh units are expected to be delivered through the course of calendar year 2020.



Launches fall most in Kolkata, Gurugram
Only 41,133 units were launched in Q3 FY20 as against 73,226 units in the corresponding period last fiscal, the report shows. New launches fell across markets, with Kolkata and Gurugram seeing the biggest fall, at 79 and 74 per cent, respectively.
  
Nearly 40 per cent of new launches were concentrated in India’s financial capital Mumbai, data show.

Affordable housing continued to dominate launches, with 52 per cent units launched in this segment.

When compared to the first nine months (April-December) of the previous financial year, launches declined by 32 per cent during the same period in the current fiscal. While 215,596 units were launched between April and December in the previous year, 145,852 units were launched during the same period this year.


Prices increase marginally across cities; Hyderabad sees 13% appreciation

Average values of property increased by 13% year-over-year in Hyderabad, the highest increase among all the cities included in the report, while Gurugram and Ahmedabad registered 6% and 5% increase, respectively.  In other cities, prices showed only nominal increases, between one and three per cent.  

(The cities coved in the analysis are Ahmedabad, Bengaluru, Chennai, Gurugram (includes Bhiwadi, Dharuhera and Sohna), Hyderabad, Kolkata, Mumbai (includes Navi Mumbai and Thane), Pune and Noida (includes Greater Noida and Yamuna Expressway))