Land acquisition becomes trend for corporate houses

February 17, Mumbai. As land prices is rising, large business houses now appear to be increasingly aware of their excess property holdings and the valuations it could fetch in addition to their regular stream of businesses.

Hindustan Unilever, A multi-national, has an extensive property portfolio. HUL has entered the property development business in a big way and is currently developing/selling about six million square feet across the country.

Mr Ranjikant Agrawal, General Manager-Corporate Real Estate, said, “at HUL what business houses hold today are land bought earlier for future expansion of factory, warehouse and marketing office spaceā€.

Mr Agrawal says increasing focus is now on strengthening in-house competence in structuring joint ventures, property development and marketing, investment, market research, valuation, portfolio consolidations, relocation management, economic analysis and occupancy strategy.