DLF, the country's largest property developer, plans to seek shareholder approval to raise as much as Rs 10,000 crore from institutional investors for its development plans, over the next 12 months.

According to the company, the shareholders will pass an enabling resolution to this effect in the next annual general meeting which will be held on September 30. The company may sell shares to investors within 12 months of getting the approval.

Phoenix Mills, engaged in the business of developing real estate has announced that MPC Synergy, a German based company will be investing around EUR 200 million at the SPV level of the Phoenix Mills Group as well as the EWDPL Group.

Phoenix Mills holds around 42 percent equity stake in Entertainment World Developers, India, which is involved in the building as well as operation of mixed-use retail centers and townships.

Real estate major Ansal Properties and Infrastructure announced that it has decided to invest Rs 3,600 crore for developing a 270-acre IT Special Economic Zone and parks in India.

A statement issued by Ansal properties informed that this 270 acre SEZ would have an IT zone, residential zone and a recreational area.

The United States Counsel General in Kolkata, Beth Payne feels that West Bengal has just been discovered by the US investors and is being monitored for its political situation by the investors.

According to her, the overall factors for investment in West Bengal are positive.

She disclosed it on Tuesday at the interactive session at the Indian Chamber of Commerce.

Payne reported, “Strikes and bandhs are an internal matter of the state but West Bengal has a pro-investment environment. The state government has demonstrated its investor- friendly policies by taking pro-active steps to make the state an attractive destination for investors.”

The new national forecast released by Canada Mortgage and Housing Corporation has put the information forward that Housing starts in Edmonton will sink by about 47.9 % this year as compared to last year.  

The single-detached houses started in the city will see a fall by 57.7% to 3,250 homes as compared to the 7,682 houses built last year. The fact was revealed by the federal agency's third-quarter housing market outlook.

The report also said that housing starts provincially in Alberta will fall by nearly one third in 2008 from last year.  

The total decline in Alberta’s total housing will be by 15,586 homes; and it will be a plunge of 32% to 32,750 from 48,336 in 2007.