CREDAI Bengal, CBRE release a joint report

CREDAI Bengal, in association with its knowledge partner CBRE, recently released a joint report titled 'West Bengal: A beacon of growth in the East' at Statecon 2019 in Kolkata.

The report encapsulates West Bengal's enabling policy environment, impetus to infrastructure growth and favorable business environment, that are helping the state attract business and thereby investments, in an unprecedented manner.

The CREDAI Bengal-CBRE knowledge paper 'West Bengal: A beacon of growth in the East' was unveiled by Amit Mitra, Minister-in-Charge, Finance Department, Information Technology and Electronics and e-Governance, Industry Commerce & Enterprises, Micro Small & Medium Enterprises and Textiles, Govt. of West Bengal; Chandrima Bhattacharya, Minister of State with Independent Charge, Housing Department, Government of West Bengal; Nandu Belani, President, CREDAI Bengal; and Anshuman Magazine, Chairman & CEO – India, Southeast Asia, Middle East & Africa, CBRE.

The report is a compendium of the key growth drivers which are shaping West Bengal and are instrumental in crafting the future of the state.

Commenting on the launch of the report, Nandu Belani, President, CREDAI Bengal said, "We have designed the second of CREDAI Bengal Statecon 2019 as an interactive platform for the real estate stakeholders of the state, to discuss emerging industry trends, deliberate on possible finance avenues in the backdrop of a liquidity crunch, shed light on PropTech, learn from success stories of new entrepreneurs, understand what it means for the real estate industry and shift the focus on emerging sectors in real estate. This year's edition also assessed global practices that can be infused into our local set-ups."

Belani further added, "The overriding objective was to essentially delve into the state's real estate scenario and assess its future prospect. The aspirations of the tier 2 and tier 3 cities were also addressed at this conference."

The co-hosts of the event included CREDAI Bengal's city chapters namely 'CREDAI Asansol', 'CREDAI Howrah- Hooghly' and 'CREDAI North Bengal', he revealed.

"We are very excited to be hosting this conference for the 2nd year pitted against a certain ambience of uncertainty, waning sales and disruptive legislations. However, we remain avowedly optimistic about real estate and its growth and as the conference theme echoes, we are certainly poised for a rebound".

While releasing the report, Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa, CBRE said, "The state's large talent pool, transparent governance processes and much-improved social and physical infrastructure have made its position stronger as a veritable business hub. Additionally, the real estate dynamics in West Bengal, especially in Kolkata, is at a stage wherein controlled supply is boosting absorption – which in turn is further helping the state's RE growth trajectory. With the right policy incentives, West Bengal is expected to put itself on the global investment map in the near future."

The conference with the theme 'Poised to Rebound', witnessed participation from think- tanks, Government Officials, Policy Makers, Financial Institutions, Investors, Real Estate Developers and Industrialists, to name a few.