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Calgary's political earthquake? Liberals bet on Carney Effect to shatter Conservative dominance

Calgary's political earthquake? Liberals bet on Carney Effect to shatter Conservative dominance

Time of India25-04-2025
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A seismic shift may be underway in Calgary 's political landscape as the Liberal Party, buoyed by the arrival of Mark Carney , mounts an audacious challenge to the city's long-standing Conservative dominance.Once dismissed as a pipe dream, the prospect of multiple Liberal seats in this traditionally blue bastion is now a tangible possibility, sparking intense scrutiny and strategic maneuvering from all sides.The catalyst for this potential upheaval is the "Carney effect." The former Bank of Canada governor's leadership has injected new energy into the Liberal campaign, erasing the "fear factor" that previously plagued the party in Alberta.Candidates like Lindsay Luhnau, initially reluctant to run under Justin Trudeau's banner, now find themselves leading competitive races in toss-up ridings like Calgary Centre.The Liberals' strategic gamble hinges on exploiting divisions within the Conservative ranks and attracting moderate voters disillusioned by Pierre Poilievre 's populist style.In Calgary Centre, incumbent Conservative Greg McLean, known for his moderate stance, is conspicuously distancing himself from the national campaign, highlighting the internal tension within the party.Meanwhile, in Calgary Confederation and Skyview, the Conservatives are grappling with nomination controversies and infighting, creating openings for the Liberals' Corey Hogan and Hafeez Malik.These ridings, along with George Chahal's defense of Calgary McKnight, have become battlegrounds, attracting significant attention and resources from both parties.The Liberals' aggressive campaign, featuring high-profile endorsements and strategic messaging, is forcing the Conservatives to divert resources from other battleground regions.Veteran Conservatives, typically deployed to swing ridings in other provinces, are now campaigning in Calgary, a testament to the perceived threat.However, historical precedent and deeply ingrained political loyalties remain formidable obstacles. Calgary's staunch Conservative identity, rooted in decades of political tradition, presents a significant challenge for the Liberals.The city's electorate, historically resistant to Liberal overtures, requires a near-perfect alignment of factors for a red surge to materialize.The NDP, despite its provincial success, faces an uphill battle in the federal contest, with polls indicating a significant decline in support.This has led to strategic voting considerations, particularly in Confederation, where the non-Conservative vote could prove decisive.The Liberals' ambitious pursuit of four seats in Calgary, a feat that would double the party's historical best, is a high-stakes gamble.A victory would not only reshape the city's political landscape but also signal a broader shift in Alberta's political identity.As the election's final week unfolds, the battle for Calgary intensifies, with both parties deploying their resources and rhetoric to sway undecided voters.The outcome will determine whether the Liberal's calculated risk pays off, potentially rewriting the political narrative of a city long considered a Conservative stronghold.
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UK's Royal Navy appoints Himachal Pradesh cadet as first-ever Hindu chaplain

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Time of India

time2 hours ago

  • Time of India

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Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Kotak Investment Advisors, through its Kotak Realty Fund , plans to invest Rs 1,000 crore in KVN Properties , an institutionally-backed land aggregation platform, said people familiar with the deal is structured in two tranches of Rs 600 crore and Rs 400 crore through debentures with the option of converting into equity at a later stage, the people said.'The documentation is in advanced stages and the closure is expected by the end of this month,' said one of the persons cited KVN, led by real estate veteran Venkat K. Narayana, the latest infusion provides the growth capital required to rapidly expand its land portfolio across major metros. The company has set a target of making land parcels with a development potential of 10 million sq. ft. available by FY26 and building a strong residential pipeline for FY27 and FY28 in the major metros.'These parcels will be monetised through joint development agreements or joint ventures with leading developers, creating a supply chain of development-ready land for a market where speed of execution and delivery have become decisive factors,' said the person cited above.A second person said the Kotak commitment is more than a financial transaction. 'It is a validation of the land aggregation model, which is increasingly becoming central to the future of residential development in India. This deal signals that institutional investors are ready to back platforms that bring scale and governance to a fragmented part of the real estate ecosystem,' this person and KVN Properties declined to comment on the has faced early traction in its partnership-led approach. It recently finalised a joint venture with the Puravankara Group to develop a 24.59-acre land parcel in North Bengaluru, as well as a development management agreement with Assetz Group for a 5.67-acre parcel in the same these projects represent a potential saleable area of 4.48 million sq. ft. and a projected gross development value of over Rs 4,300 crore. Both developments are expected to be launched by this fiscal year-end, benefiting from strong housing demand in Bengaluru and its expanding connectivity to key employment experts believe that platforms like KVN are well-positioned to capitalise on this momentum by acting as strategic enablers for developers.'Developers today need speed and certainty. A trusted partner that can systematically acquire and aggregate land parcels, and deliver them in development-ready form, removes a critical bottleneck and reduces execution risk,' said a senior real estate advisor, requesting potential investment in KVN tracks with a buoyant phase for the residential real estate market. According to Colliers, private equity investments in the residential sector reached $1.5 billion in the first half of 2025, nearly doubling from the same period last year. This surge has been supported by rising income levels, favourable demographics, and connectivity improvements driven by infrastructure the first quarter of 2025 alone, more than 65,000 housing units were launched across India, with Mumbai, Pune, and Bengaluru together accounting for 64% of the new supply. Sales momentum was equally robust, with Mumbai, Pune, and Delhi-NCR making up 62% of transactions during the period.'With housing demand surging and land aggregation emerging as the missing link, this deal allows Kotak to position itself early in a segment that will define the next decade,' said a person aware of the fund's Kotak, the investment into KVN adds to a growing roster of high-profile real estate bets. Since its inception in 2005, Kotak Realty Fund has raised more than $3.5 billion across multiple vehicles spanning residential, office, retail, hospitality, and warehousing. In April 2024, Kotak Alternate Investment Fund, alongside the Abu Dhabi Investment Authority (ADIA) committed Rs 2,001 crore into four large residential projects of a South India-based real estate firm across Bengaluru, Mumbai, Delhi, and Goa, with a combined development potential of 13.5 million sq. Elan Group also raised Rs 1,200 crore from Kotak Real Estate Fund in 2024.

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