Islamabad | ReNews Pakistan


The National Electric Power Regulatory Authority (NEPRA) has proposed a new regulatory framework allowing federal and provincial governments to establish standalone electricity systems in selected areas where conventional distribution networks face persistently high losses, poor bill recovery, inadequate service quality or economically unsustainable operating costs.
The proposed National Electric Power Regulatory Authority Standalone Electric Power System (Pilot Projects) Regulations, 2026, aim to introduce alternative electricity supply arrangements independent of the national or provincial power grid.
NEPRA has released the draft regulations for public consultation, inviting government institutions, electricity consumers and other stakeholders to submit their comments and recommendations to the regulator's registrar within 30 days of publication.
Under the proposed framework, standalone electricity systems may include power generation facilities, energy storage equipment and associated electrical infrastructure. However, these systems would operate without any direct or indirect connection to the national or provincial electricity grid.
The initiative is intended for areas where traditional electricity distribution arrangements have become financially or operationally difficult to maintain because of high distribution losses, poor revenue recovery, inadequate services or the high cost of maintaining conventional networks.
The draft regulations provide that either the federal government or a provincial government would act as the sponsoring authority for an alternative electricity supply scheme.
With the consent of the relevant distribution company, the sponsoring government could notify a designated area for the establishment of a standalone electricity system.
Following notification, the designated area would be excluded from the licensed service territory of the existing distribution company and the relevant supplier of last resort.
The proposed regulations would initially allow a maximum of two pilot projects for each distribution licensee. However, NEPRA could approve additional projects upon a request from the sponsoring government.
Each proposed scheme would be required to provide detailed information about its geographical coverage, technology, implementation schedule, participating institutions, costs, safety arrangements and expected public benefits.
The framework also places emphasis on consumer protection and service quality.
Implementing agencies would be required to establish minimum service standards covering electricity availability, supply capacity, fault rectification, equipment replacement timelines and consumer complaint resolution.
Prior consultation with affected consumers and advance notification would also be mandatory. The schemes would need to address arrangements for providing electricity to future consumers within the designated areas.
According to the draft, the federal or relevant provincial government would finance standalone electricity systems either fully or partially, depending on the approved cost-sharing arrangements.

Sydney | ReNews International News Desk

Australian property operator Ingenia Communities Group has received a new takeover proposal valued at approximately A$2.2 billion from AVID Property Group, intensifying a contest among major international investors seeking exposure to Australia's residential communities and holiday accommodation sectors.
According to Reuters and the company's latest stock exchange announcement, AVID Property Group has submitted an unsolicited, non-binding indicative proposal to acquire all outstanding Ingenia securities for A$5.35 in cash per security.
The proposed consideration could reach A$5.40 per security when a potential distribution of up to five Australian cents is included.
The offer exceeds the latest A$5.25-per-security proposal from US private equity firm Warburg Pincus and represents a premium of approximately 13.4% over Ingenia's closing share price on the preceding trading day.
Ingenia Communities is an Australian Securities Exchange-listed property group specialising in land lease communities, residential rental accommodation, seniors housing and holiday parks.
The company develops and operates residential communities across Australia, with significant exposure to housing for older Australians and domestic tourism accommodation.
Following news of the competing bid, Ingenia shares rose as much as 9.1% during trading on Monday, October 26, before closing approximately 5% higher at A$5, their highest closing level in nine months.
The latest development follows several earlier takeover approaches from Warburg Pincus, which had progressively increased its proposed acquisition price.
Ingenia's board has now entered into a process deed with AVID, granting the potential buyer up to six weeks of soft exclusivity to conduct due diligence and advance discussions.
Under this arrangement, AVID receives priority access to examine the company's financial and operational information, although Ingenia retains the ability to consider competing proposals.
As part of the new arrangement, Ingenia has terminated Warburg Pincus' access to its confidential data room, marking a significant shift in the ongoing takeover negotiations.
AVID's proposal is supported by a global sovereign wealth fund and an international financial sponsor. Property industry reports have identified Abu Dhabi's Mubadala Investment Company and global asset management firm Brookfield as investors associated with the proposed transaction.
AVID Property Group is an established Australian residential developer with operations spanning master-planned communities, housing developments and land lease residential projects.
The acquisition of Ingenia would potentially expand AVID's position in Australia's residential property market while providing access to a substantial portfolio of established residential communities and holiday accommodation assets.
Industry reports also indicate that AVID intends to transfer Ingenia's holiday parks business to Tasman Holiday Parks or its nominated entity following completion of a successful acquisition.
However, the proposed transaction faces a major condition involving Ingenia's existing agreement to acquire Australian property developer Peet Limited.
Ingenia announced the proposed A$992.5 million acquisition of Peet in August 2026 as part of a strategy to expand its landbank and development operations.

Mohali | ReNews International Desk News


International luxury watch and jewellery brand Jacob & Co. has partnered with Punjab-based real estate developer GB Realty to develop a luxury residential project worth approximately Rs 2,500 crore in Mohali, India.
The development will introduce internationally branded luxury residences to the Punjab property market, including residential towers associated with Bollywood actor Salman Khan.
According to Indian media reports, the project will be developed on approximately nine acres along Airport Road in Mohali and will comprise five luxury residential towers.
Of the five towers, two will be marketed as Salman Khan Residences, while the remaining three will carry the Jacob & Co. brand.
The entire development will incorporate design elements associated with Jacob & Co., while GB Realty will oversee the project's real estate development and construction activities.
Reports indicate that the developer acquired the nine-acre site for approximately Rs 550 crore through an auction conducted by a local development authority.
The company has estimated the overall investment at Rs 2,400 crore to Rs 2,500 crore, covering land, construction, development and other project-related expenses.
The development is being positioned as Punjab's first branded residences project and one of the earliest examples of international luxury-branded housing entering a tier-two Indian city.
Branded residences are premium residential properties developed in association with internationally recognised luxury, hospitality or lifestyle brands. Such projects typically incorporate a brand's design identity and distinctive positioning into the residential offering.
Gurinder Bhatti, Founder and Managing Director of GB Realty, said the company aimed to introduce a distinctive luxury residential experience by combining international design expertise with its local development capabilities.
He expressed confidence in the purchasing power and long-term potential of the Chandigarh-Mohali-Panchkula region, commonly known as Tricity.
According to Bhatti, the partnership with Jacob & Co. reflects the company's ambition to establish a new benchmark for luxury housing in North India.
A major attraction of the proposed development will be the two residential towers associated with Salman Khan.
Indian media reports suggest that the Bollywood actor is involved in promotional activities surrounding the project. However, details of any direct financial investment or ownership stake held by Khan have not been disclosed.
The announcement forms part of GB Realty's broader strategy to expand its luxury and ultra-luxury residential portfolio across North India.
The company plans to invest more than Rs 5,000 crore over the next three years while entering new property segments and geographical markets.
Over the next five years, GB Realty aims to increase its cumulative investment to approximately Rs 10,000 crore, including an estimated Rs 3,500 crore earmarked for luxury and ultra-luxury residential developments.
India's branded residences market has witnessed growing interest from international luxury names, with developments increasingly emerging in major property markets such as Gurugram, Noida and other parts of the National Capital Region.
The proposed Mohali development reflects a wider trend in which international luxury brands and property developers are expanding beyond established metropolitan markets to attract affluent buyers in emerging urban centres.
The collaboration also comes as developers seek to differentiate high-end residential projects through international brand associations, premium design concepts and celebrity-linked marketing.
However, the developers have not yet disclosed the total number of residential units, apartment sizes, pricing structure, booking schedule or expected completion and possession dates.
Real estate market observers believe that internationally branded developments could strengthen the positioning of emerging luxury housing destinations such as Mohali. Nevertheless, the project's eventual commercial performance will depend on pricing, construction quality, timely delivery and sustained demand from genuine homebuyers.

Dubai | ReNews International Desk News
Residential property sales in Dubai South have reached their highest level in six years, with 12,428 transactions recorded during the first eight months of 2026, surpassing the total number of homes sold in any full year over the previous six years.
The latest figures reflect sustained activity in one of Dubai's emerging residential and commercial corridors, even as buyers increasingly favour smaller, relatively affordable housing units over larger, more expensive properties.
According to a report by international property consultancy Anarock, residential transactions during January-August 2026 were 27% higher than the 9,788 transactions registered throughout 2025.
The total value of residential property sales reached AED 15.9 billion during the eight-month period, representing approximately 81% of the AED 19.6 billion recorded in the previous full year.
The report highlights significant long-term growth in Dubai South's real estate market. In 2020, the area recorded just 672 residential transactions worth AED 720 million. By 2025, annual sales had increased to 9,788 transactions with a combined value of AED 19.6 billion, representing approximately 27 fold growth in sales value.
A major shift in buyer preferences has emerged, with studio apartments accounting for 45% of residential transactions between January and August 2026, compared with only 19.5% in 2025.
One-bedroom apartments contributed another 31%, bringing the combined share of smaller residential units to approximately 76% of total transactions.
The growing preference for smaller homes has also significantly affected the average value of individual property transactions.
According to Anarock, the average transaction value declined to AED 1.28 million during the first eight months of 2026, compared with its peak of AED 2.57 million in 2023.
However, the consultancy emphasised that the reduction in average transaction value should not be interpreted as a general decline in property prices.
The average residential price per square foot actually increased from AED 650 in 2020 to AED 1,656 during January-August 2026, indicating that lower overall purchase values largely reflect the growing proportion of smaller apartments being sold.
Aayush Puri, CEO of Residential Middle East and Anarock Channel Partners, said the most important change in the market was the type of properties buyers were purchasing.
He noted that studios and one-bedroom apartments now represent approximately three-quarters of residential transactions, making smaller and lower-ticket properties the primary drivers of sales activity.
The report also found that apartments accounted for 94.5% of total residential sales volume, compared with 31% in 2020.
Off-plan properties continued to dominate the market, representing 94% of residential transactions during the first eight months of 2026, up from 73% in 2020.
Dubai South is a 145-square-kilometre master-planned development centred around Al Maktoum International Airport. The airport's AED 128 billion expansion, approved in April 2024, is expected to play a major role in supporting the area's long-term economic and real estate development.
The report also identified a substantial pipeline of new residential projects, with 38,116 units scheduled for delivery between 2027 and 2029.
Of these, approximately 16,094 units are expected to be completed in 2028 alone, marking the largest annual handover volume within the projected period.
Property analysts have cautioned that such a concentrated supply pipeline will require sustained demand to maintain market balance and avoid pressure on occupancy and rental performance.
The latest trends suggest that Dubai South's residential market is evolving beyond its earlier dependence on larger properties, with smaller apartments increasingly driving transaction volumes and broadening the area's appeal among buyers seeking lower overall purchase costs.

London | ReNews Pakistan


Nearly one kilometre of London's world famous Oxford Street has been closed to general traffic and transformed into a pedestrian-only zone under a major £150 million regeneration initiative aimed at revitalising one of Britain's most prominent shopping destinations.
The new restrictions, which came into effect on October 26, 2026, prohibit cars, buses, taxis, bicycles and electric scooters from entering the section between Orchard Street and Great Portland Street.
Traffic has been diverted to surrounding roads, while emergency vehicles retain access. Authorised delivery and servicing vehicles are permitted to enter through designated routes between midnight and 7am.
Oxford Street is among the world's busiest shopping destinations, attracting approximately 500,000 visitors daily and generating an estimated £3.1 billion in annual retail spending.
The transformation forms part of London Mayor Sadiq Khan's wider vision to create a safer, greener and more attractive shopping environment while strengthening the capital's retail economy.
Planned improvements include additional trees, public seating, improved lighting, clearer signage and open spaces for cultural and community activities. The initiative is also intended to enhance the overall shopping experience and encourage further investment in the surrounding commercial district.
According to the Oxford Street Development Corporation, the initial phase involves temporary arrangements designed to minimise disruption and allow authorities to assess how pedestrians, businesses, residents and workers use the newly created public space.
Feedback collected during this phase will help shape permanent improvements, with a transitional design expected to be introduced by spring 2027.
Mayor Sadiq Khan has described the transformation as an important step towards boosting economic growth, supporting employment and making central London more welcoming to residents and international visitors.
However, the traffic restrictions have also raised concerns about congestion on nearby roads as buses, taxis and private vehicles are redirected away from the shopping street.
Transport for London has advised commuters and visitors to use public transport wherever possible and allow additional journey time when travelling through the area.
The initiative has been launched ahead of the busy Christmas shopping season, with authorities hoping that a more accessible, pedestrian-friendly Oxford Street will attract visitors, improve the shopping experience and support long-term commercial growth.