Alliance to invest Rs.1 bn in Real Estate TVSeptember 18th, 2008 - 7:44 pm ICT by IANS
Mumbai, Sep 18 (IANS) Chennai’s Alliance Group, which launched “Real Estate Television”, the country’s first 24×7 english news channel dedicated to the realty sector in July this year, now plans to invest Rs.1 billion in next two years.”We had launched the channel with an initial investment of Rs.500 million. Now we plan to invest Rs.1 billion in the next two years. Also, we will foray in the markets of Middle East, US, Canada and Australia by February next year,” channel’s CEO Prem Kumar Menon told IANS.
He says the channel targets Non-Resident Indians (NRIs) who are keen to invest in the realty market.
“The problem they face is, they do not have the right guidance to do so. Our channel will cater to their needs.
“In the nine months of its launch, the channel already has two million viewers with an average attention span of 14 minutes, which is promising for a newly-launched channel catering to a particular area of the market,” Menon said.
He said that “Real Estate Television” is also targeting high net worth viewers in metros, who would like to be updated on all aspects of real estate, including infrastructure.
Also, the channel helps Indians in choosing properties overseas for investment and personal use. It also provides tips to householders with regard to their home needs including furnishing and designing of their homes.
Menon stressed that the channel is a one-stop shop for anything and everything related to real estate industry and other industries directly or indirectly associated with it.
“Though there is a general perception that real estate is a dry subject, let me emphasise that the channel is not about buying and selling of real estate properties. It is entertaining, but the programming is fact-based. For example, who wouldn’t like to look at the interior of a celebrity house and how it has been done up?”.
Some of the programmes of the niche channel cater to property and realty stock prices, celebrity homes, architecture, interior design, furniture and furnishings, vastu and Feng-shui and home makeovers. A 30-minute round-the-clock news covering various aspects and happenings in real estate market is another attraction.
There is a realty channel in Britain which is also called “Real Estate Television”.
Commenting on that, Menon said: “Although I have not had the chance to watch Real Estate Television, London, I am sure, their programming may not be the same as ours. In that respect, both the channel might complement each other and the overseas viewers will have the variety.”