Realty sector to add 6000 architects, engineers

Bangalore, Apr 30 (UNI) Buoyed by the success in infrastructure and hospitality sector, the Indian realty market is likely to add over 1000 architects and 5000 civil engineers across major metros and mini metros during the 2007-08 fiscal, according to a EMA study.

EMA Partners India Director K Sudarshan said in a press release, ''The market for architects and civil engineers is expected to grow by more than 30 per cent this year as compared to 20 per cent in 2006''.

The study said infrastructure boom had brought about design opportunities such as metro rail stations, new private airports, public utilities and the Commonwealth Games 2010 at New Delhi.

The booming IT and ITES sectors would see major players like Boeing and EADS, with comparatively small presence in India, would set up new facilities, while Accenture, Intel, Microsoft, Cisco and Wipro were expanding their facilities.

Emergence of organised retail sector with new investments by the RPG Group, Future Group and entry of new players like Aditya Birla Group, Reliance, Bharti Walmart and others would see large number of malls being constructed in metros and tier 2 cities.

The Indian economy registered 8.4 per cent growth in 2006 and was projected to touch nine to ten per cent this year. Last year, India was amongst four largest FDI recipients in South, East and Southeast region.

He said FDI inflow in realty saw a whooping 400 per cent rise to 703.3 million US Dollars during January-October '06 from US 135.35 million dollars in the same period in the previous year.

The major foreign investors for 2006 were Dubai based Emaar Group, Morgan Stanley real estate, Alpha G Corp; US based Siachen Capital and UK's Liberty International.

More than 5.75 million sqft of total office space was added in last quarter of 2006 across Mumbai, Delhi, Chennai and Bangalore.

The rising costs and local capacity constraints were driving companies to Tier 2 cities such as Chennai, Hyderabad and Pune and Tier 3 cities such as Jaipur, Chandigarh, Mysore and Ahmedabad.

UNI