AGP Executive Report
Last update: 7 hours agoMonsoon Safety & Disruption: Strong winds and heavy rain in Navi Mumbai’s Ghansoli blew metal sheets off an under-construction building, crashing onto a parked car and blocking a road; similar rain-linked hazards hit Mumbai, including a tree and traffic signal pole collapse in Colaba. Construction Risk: A two-storey under-construction commercial building collapsed in Chandigarh’s Industrial Area Phase II, killing two partners and injuring five workers. Project Deals (MENA): Saudi’s Sumou signed a development management deal with Arch 3 to oversee a 6,394-sq-m mixed-use project in Jeddah, with sales expected above SAR700m; Banan Real Estate also won a SAR55m contract to develop a Riyadh hotel building, due in two years. Water & Urban Resilience: A new report highlights India’s looming water stress and the need to build water efficiency into modern real estate; residents in Vikhroli allege construction debris and poor drainage maintenance are worsening waterlogging. Housing Policy & Supply: California’s SB 79 takes effect, enabling higher-density housing near transit stops in Westwood; in Dhaka, a proposed Old Dhaka Revitalisation plan targets redevelopment plus 60% open space. Finance & Regulation: RBI imposed penalties on Bank of Baroda and GIC Housing Finance for fair practices and KYC lapses. Recovery & Social Housing: Venezuela launched a nationwide housing recovery mission after June 24 earthquakes, bundling housing programs with subsidized financing and tax relief. Construction Jobs & Skills: World Bank urges reforms to unlock construction jobs in Uganda, citing weak regulation and delayed projects.
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