Business
Scoop: New York-Based Luxury Watchmaker Jacob & Co To Make Real Estate Debut In India In Partnership With a Delhi-NCR Based Realtor
The Indian Luxury Real Estate market has been grown rapidly and the future is bright, as shown by industry reports. The lucrative sector has been attracting foreign investors and in this sequence, soon another name is going to make its debut. According to sources, Jacob & Co., the New York-based high-end jewellery and watchmaking house founded by Jacob Arabo, is set to make its India debut.
While the official announcement is likely this week, industry insiders suggest that Jacob & Co. has selected one of the leading developers of the country based out of Delhi-NCR to partner with for its first residential project to the country. It is heard that among the many proposals received, Jacob’s team zeroed in on this Indian developer for their India foray with a focus on luxury projects.
Arabo, known for his creations such as the Billionaire Watch and Astronomia Tourbillon, has taken Jacob & Co. from its beginnings in New York to major luxury destinations including Geneva and Dubai. “A potential India foray would further expand this global presence and tap into the country’s growing community of affluent buyers seeking design, craftsmanship, and exclusivity,” said the sources.
Manish Raheja, Luxury Real Estate Expert, said, “The entry of Jacob & Co. into India’s real estate sector is a landmark development that will redefine the contours of the super-luxury housing market. Delhi-NCR, already home to some of the country’s most discerning buyers, is poised to witness a new era of experiential living where design, exclusivity, and global craftsmanship converge. Jacob & Co.’s association with Indian real estate signals a maturing market that is ready for the world’s most aspirational brands. This move will undoubtedly set a new trend in branded residences and further elevate India’s position on the global luxury map.”
India’s luxury real estate market continues to evolve rapidly. As per Knight Frank’s Wealth Report 2024, the number of ultra-high-net-worth individuals (UHNWIs) in India is projected to increase by 58% by 2028, making the country one of the fastest-growing wealth markets globally. Similarly, a Savills India report predicts that the branded residences segment could grow by 200% by 2031, driven by rising incomes and a growing preference for branded lifestyle spaces.
Business
Govt keeps petrol, diesel prices unchanged for coming fortnight – SUCH TV
The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.
This decision was notified in a press release issued by the Petroleum Division.
Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.
Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.
Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.
The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.
Business
Serial rail fare evader faces jail over 112 unpaid tickets
One of Britain’s most prolific rail fare dodgers could face jail after admitting dozens of travel offences.
Charles Brohiri, 29, pleaded guilty to travelling without buying a ticket a total of 112 times over a two-year period, Westminster Magistrates’ Court heard.
He could be ordered to pay more than £18,000 in unpaid fares and legal costs, the court was told.
He will be sentenced next month.
District Judge Nina Tempia warned Brohiri “could face a custodial sentence because of the number of offences he has committed”.
He pleaded guilty to 76 offences on Thursday.
It came after he was convicted in his absence of 36 charges at a previous hearing.
During Thursday’s hearing, Judge Tempia dismissed a bid by Brohiri’s lawyers to have the 36 convictions overturned.
They had argued the prosecutions were unlawful because they had not been brought by a qualified legal professional.
But Judge Tempia rejected the argument, saying there had been “no abuse of this court’s process”.
Business
JSW Likely To Launch Jetour T2 SUV In India This Year: Reports
JSW Jetour T2 Launch: JSW Motors Limited, the passenger vehicle arm of the JSW Group, is reportedly preparing to enter the Indian car market this year. It has partnered with Jetour, a China-based automotive brand owned by Chery Automobile, and the Jetour T2 SUV could be the company’s first product, according to the reports.
Media reports suggest that the launch will happen independently and not under the JSW MG Motor India joint venture. The SUV will wear a JSW badge and name, instead of the Jetour branding. The upcoming SUV will be assembled at JSW’s upcoming greenfield manufacturing facility in Chhatrapati Sambhaji Nagar, Maharashtra.
According to the reports, the company plans to have the vehicle on sale by the third quarter of this year. With this move, JSW aims to establish itself as a standalone carmaker in India.
Expected Powertrain
The SUV is likely to arrive with a 1.5-litre plug-in hybrid setup. Internationally, this hybrid powertrain is offered with both front-wheel drive and all-wheel drive options. It is still unclear which version will be introduced in India.
Design
In terms of design, the T2 is a large and rugged-looking SUV. It has a boxy and upright stance, similar to vehicles like the Land Rover Defender. Despite its tough appearance, it uses a monocoque chassis instead of a ladder-frame construction.
Size
The SUV measures around 4.7 metres in length and nearly 2 metres in width. This makes it larger than the Tata Safari, even though it is a five-seater. A longer 7-seat version is also sold in some markets.
Price
Pricing details for India are yet to be announced. For reference, the front-wheel-drive five-seat T2 i-DM is priced at AED 1,44,000 (around Rs 35 lakh) in the UAE.
Jetour
Jetour is a brand owned by Chinese automaker Chery. Launched in 2018, it focuses mainly on SUVs and is present in markets across China, the Middle East, Africa, Southeast Asia and Latin America.
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