An Indian real estate developer is looking to reinvigorate slum neighbourhoods with building projects designed to improve social and economic conditions. Sobha Developers, based in Bangalore and focussing on residential property, wants to set up what it calls special economic zones (SEZs) including retail and commercial projects.

The firm’s executive director Raghav Menon said the company would build an SEZ in either Tamil Nadu or Kerala. He said:

“We haven’t decided on the place yet. We will also enter retail and commercial project development.”

The company is already planning projects in Delhi, Hyderabad, Pune, Mysore, Kerala and Orissa, and recently posted a net profit growth of 40 per cent year-on-year.

However, analysts recently said the firm was facing a cash problem and needed to expand into retail and commercial sectors to provide more income. Executives have denied the firm faces difficulties.

Sobha was founded in 1995 with the vision to “transform the way people perceive quality”.

The company had completed 18.8 million square feet of development as of September 2007, and in total had a hand in 42 completed residential or commercial in house projects, 36 ongoing projects and 104 contractual projects.

UK real estate developer Barratt has released a property investment for dummies guide after completing its latest development. In the latest effort by a developer to ensure stock shifts amid wobbling UK prices, the company put together five top tips.

Saying property investment was still a sound long-term strategy, bosses said only 11 units are left at its West Midlands Woodlands View development.

Barratt sales director David Child said:

“Compared with other forms of investment, property remains to be a sound long-term investment solution and it is no surprise that people are increasingly turning to bricks and mortar as a way to secure a good future for them and their children.”

The firm says researching the market should be the main starting point. Local newspapers, the local council, employers and estate agents should all be contacted, Barratt says.

Potential property investors should then decide who their target market is, and consider location factors. Good places to look are properties close to town centres, local amenities, good schools, transport networks, universities and large employers where there is always likely to be a good supply of potential tenants.

Before securing a deal, buyers should get a second opinion and take an impartial look at the strengths and weakness of the property investment, the firm says.

Founded in 1958, Barratt has sold around 300,000 homes around the UK throughout its history to date.