Real Estate in South Asia

Prashant Das, Ph.D., is Associate Professor of Real Estate Finance and the acting director of the Real Estate and Finance Institute at École hôtelière de Lausanne, Switzerland. Prashant has delivered Master's, executive and undergraduate-level courses in Switzerland, the USA, China, India and Romania. Earlier, he served in managerial and engineering roles with several firms/organizations, including HCL Infosystems and Tata Consultancy Services. Prashant has earned seven internationally competitive best research paper awards and a teaching excellence award. Ramya Aroul is an assistant professor of finance at Texas A&M University–Commerce, USA. She holds a Ph.D. specializing in Finance and Real Estate and an MS in Real Estate from the University of Texas at Arlington. Her work has been published in the Journal of Real Estate Finance and Economics and the Journal of Real Estate Research and has been presented at national and international conferences like those of the Financial Management Association, American Real Estate and Urban Economics Association and Eastern Finance Association. Julia Freybote is an assistant professor of finance at Portland State University, USA, and an extraordinary associate professor in the Department of Business Management at Stellenbosch University, South Africa. She holds a Ph.D. in Real Estate and a Master of Science in Real Estate (MSRE) from Georgia State University, USA, as well as a Diplom-Kauffrau degree from EBS Universität in Germany. Her research interests include real estate finance and investment, behavioural real estate and sustainability and sustainable urban development in the context of real estate asset pricing. She has taught graduate and undergraduate real estate courses in the USA and South Africa.

• A1. Foreword 1Graeme Newell PhDA2. Foreword 2Jeffrey Fisher PhDA3. Editors’ NotesPrashant Das PhD, Julia Freybote PhD & Ramya Aroul PhDA4. A Synopsis of the ChaptersJulia Freybote PhD, Prashant Das PhD & Ramya Aroul PhDA5. Profile of Chapter ContributorsA6. Panel of ReviewersSection B: Pan-South AsiaB1. The Economics of Real Estate Knowledge in South Asia: An Analysis of Supply and Demand in Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri LankaPrashant Das PhD, Peter Varga PhD and Emna M’SeddiB2. A Macroeconomic Overview of South Asia: A Real Estate PerspectiveYong Chen PhD, Prashant Das PhDB3. Do South Asian Lenders Assume More Risk by Offering Real Estate Loans? Gianluca Mattarocci PhD and Xenia ScimoneB4. Buildings, Distributed Energy and the Grid: South Asian ScenarioAbhay AmbatiSection C: Chapters by CountryC1. BangladeshC11. A Brief History of Real Estate Finance Development in BangladeshMohammad Riaz Uddin PhDC2. BhutanC21. Real Estate Markets of BhutanDawa Tamang C3. IndiaC31. Trader to Investor: Evolution of Real Estate Development in IndiaAshish Gupta and Sunil Agarwal PhDC32. Alternative Finance Solutions’ to Promote Affordable Housing Syed Zahid AhmadC33. REITs in India: A Story Still UnfoldingCharles R. Thomas Jr PhD and Prashant Das PhDC34. Co-Working In India - A PerspectiveRahul SinghC35. Creating Higher Density Property Development Opportunities in Fringe Areas of Surat – A Case of Surat Outer Ring-Road using Land Readjustment and Density BonusesJay Mittal, Lindsey Forson and Sweta ByahutC36. The HIAL Project in India – A Case StudyVlad PoenaruC4. MaldivesC41. Country Profile: The MaldivesGiorgio Antonelli and Vanessa YeungC5. Nepal C51. Real Estate Markets in NepalHumnath Panta PhDC6. PakistanC61. Pakistan – A Country ProfileMuhammad Khan Niazi PhD C62. Real Estate Markets in PakistanJulia Freybote PhDC63. The REIT Market in PakistanKola Akinsomi PhD and Julia Freybote PhDC7. Sri LankaC71. Facilitating Urban Underserved Dwellers and Paradigm Shift in Real Estate Development: The Case of Colombo Harsha Munasinghe

"This book makes an important and timely contribution to an under-researched global region that is experiencing significant economic change. It provides an insight into countries having opaque to semi-transparent real estate markets. Charting the developments in real estate markets, the book highlights the challenges and structural changes faced by real estate markets in these countries as they increasingly integrate with the world economy and provide opportunities for domestic and international occupiers and investors." Dr. Michael White (Professor & Director of the Real Estate Economics and Investment Research Group, Nottingham Trent University, UK) "This book will help the investors interested in commercial and residential real estate markets of South Asia, a region offering double digit growth potential. The book consolidates a broad overview of this diverse and rather complex- market with original perspectives, relevant data and useful interpretations. Supported by facts, figures and case studies, academics and practitioners come together as authors to help decision makers and future researchers." Remy Rein (Former Deputy Director: BNP Paribas Real Estate, France) "South East Asia's economies are expected to play an increasingly important role as the 21st century unfolds. In response, the editors have pulled together into a single volume a wide range of subject matter, drawn from across its real estate markets, and written using diverse approaches and with varying levels of perspectives. The result is a compendium to extend the knowledge and insights of the increasing number of professionals and investors who wish to explore the potential in this burgeoning region." Dr. Paul Gallimore (University of Reading, UK) "If you are looking for a combination of academic and business insight into the booming South Asian market, this book is a must read. It is a valuable and rare source of information for practitioners, students, and academics looking to expand their knowledge about the specific dynamics of this real estate market." Dr. Ines Blal (Executive Dean, EHL Lausanne, Switzerland) "...a delightful guide full of important information for those of us who want to learn real estate practice in the South Asian market. This book paves a way to future research on these countries and supports courses on international real estate."Dr. Peng Liu (Singapore Tourism Board Distinguished Professor in Asian Hospitality Management, Cornell University, USA)