Foreign Housing JV A Reminder Of Long-Term Attractiveness

CFW View: The announced homebuilding venture between India's Sahara Group, US-based Turner Construction and private equity firm Acropolis is a timely vote of confidence in a sector that, despite its long-term growth potential, continues to face difficulties. However, while India's housing market faces a number of short- and long-term challenges, foreign interest in the sector - which is usually in partnership with a local firm - remains strong, due to the long-term rewards on offer. Furthermore, the timing of the deal fits in with our view that sector growth should begin to pick up from 2012 onwards.

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