How is the current real estate market trend?
The current market scenario seems to be very challenging, with last year being drastically affected by the pandemic followed by the closure of the causeway as impacted the market economically. Also, the market is being very price-sensitive.
However, with the causeway opening, and the vaccination drive in full swing, we see a ray of hope. We are optimistic and hopeful that the market will respond positively and they would a lot of economical activity going forward, which would be good for Fontana Infinity leasing.
How did the market respond to the launch of Fontana Infinity
Even though it’s been a tough time, the market has responded very positively to the launch of Fontana Infinity. They was huge excitement about the project in the market, for its world-classes facilities and as it is part of the Fontana series. However, they are few challenges the first being even though they was much excitement about the project, the same has not been reflected in terms of leasing the property. The primary reason being that they’re no new customers in the market and only customers who are migrating from one property to another, for better pricing or facilities. While the second challenge in terms of the existing property inventory being affected because of similarity to Fontana Infinity. However, this is more of an assumption, with FI pricing and as the market is opening up the scenario might be different and probably we may not have a repelling effect on other properties.