The National Building Code of India, plus other headlines

For PropertyGuru’s real estate news roundup, India’s National Building Code (NBC) is a document that provides guidelines for the construction of structures. In other news, residential real estate prices of various types of new housing units in the Philippines continued to increase in the second quarter of the year but at a slower pace. Lastly, Goodman Group has completed the construction of a third building at its Tsuen Wan West data centre campus in Hong Kong.

National Building Code of India: NBC norms for high-rise buildings and other residential buildings

India’s National Building Code (NBC) is a document that provides guidelines for the construction of structures – residential, mercantile, institutional, educational, commercial, assembly, storage spaces or even hazardous buildings. It is important to follow these guidelines that are meant to protect the overall health of the construction and ensure the health and safety of the public and the residents. Housing.com reports on the NBC guidelines for residential buildings. These standardised codes were first published in 1970 and revised later in 1983. The latest revision was in 2005.

Hike in Philippine residential real estate prices slowed in Q2

Residential real estate prices of various types of new housing units in the Philippines continued to increase in the second quarter of the year but at a slower pace than the expansion in the same period last year.

Residential Real Estate Price Indices (RREPI) data released by the Bangko Sentral ng Pilipinas (BSP) on Friday showed a 2.7 percent increase in the second quarter, slower than the 14.1 percent seen in 2023. It was also lower than the 6.1 percent growth in the first quarter of the year.

On a quarter-on-quarter basis, however, housing prices grew faster at 1.8 percent than the 1.1 percent growth in the first quarter of 2024. Residential property prices in the National Capital Region (NCR) contracted by 1.0 percent in the second quarter.

The BSP said in PNA that the “decline in the prices of single-detached/attached houses outweighs the increase in the prices of townhouses and condominium units.”

Goodman completes third data centre at Tsuen Wan West in Hong Kong

Goodman Group has completed the construction of a third building at its Tsuen Wan West data centre campus in Hong Kong, handing it over to GDS.

The new data centre building offers a power capacity of 50MW and contributes to the 225MW capacity of the Goodman Tsuen Wan West Campus. Goodman Group purchased the site, which was previously an old textiles factory, in 2014. Construction began on the first building in 2019 following comprehensive power, design, and planning activities.

The first two buildings at this new campus were leased on completion in 2022. The recently completed third building, along with an anticipated fourth building due for completion by the end of 2024, are both leased to GDS, a prominent developer and operator of high-performance data centres across Asia.

Paul McGarry, Goodman’s Head of Asia, remarked in DataCenterNews Asia, “This is the latest data centre completion at the brand new 225MW Goodman Tsuen Wan West campus, further demonstrating our ability to provide the essential infrastructure needed to support Hong Kong’s digital economy.”

The Property Report editors wrote this article. For more information, email: [email protected].