According to a report, real estate is responsible for almost 8% of billionaires.

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Apr 26, 2022 |
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According to a report, real estate is responsible for almost 8% of billionaires.

According to a report, real estate is responsible for almost 8% of billionaires.

New Delhi, India: A total of 8.1 per cent of the overall list of billionaires came from the real estate sector, which also boasts a concentration of 275 billionaires, according to M3M India Director Pankaj Bansal, who was speaking at the unveiling of the M3M Hurun Global Rich List 2022. According to an expert, “I am confident that the real estate market will see a considerable increase in the next five years due to unmet housing demand caused by urbanisation and modernisation of municipalities.”

According to the Forbes Billionaires Index, 59 per cent of the country’s billionaires are self-made, showing that the current generation of entrepreneurs is financially savvy, asset-rich, and investment-vibrant. Additionally, Bansal noted that gender inclusiveness and equality had become a prominent issue, with women outranking men across industries.

As he pointed out, “it is also true that the wealthy have made enormous investments in philanthropy and have contributed significantly to India’s social and economic development, with particular attention paid to nutritional issues and education and women’s empowerment.”

According to Andrew Carnegie, one of the world’s most generous benefactors, “Ninety per cent of all millionaires become rich through the ownership of the real estate.”
“The real estate sector in India is ranked third among major industries. It is also the second-largest in terms of employment generation. It is exceptionally effective at creating both short- and long-term jobs. This sector is also expected to contribute 13 per cent to India’s GDP by 2025 and reach a market size of $1 trillion by 2030, according to the Indian government, “Bansal made the statement.

“We are optimistic that the year 2022 would rekindle the country’s economic vigour and enable us to catch up with our worldwide competitors in terms of economic growth. Particularly at a time when India is gaining momentum in startups and unicorns and has grown to become the world’s third-largest ecosystem, trailing only the United States and China, “said an expert.

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