Office space absorption dropped in Bengaluru in the October-December quarter, compared to the same period last year, partly due to limited availability of Grade A office space in the city. Gross absorption fell to 4.6 million sqft in the quarter, from 5.3 million sqft a year earlier, according to data from an independent property consultancy.… Read More »
Bringing another feather in the cap of IT and start-up hub Bengaluru, it has been rated as the world’s most dynamic city in the annual report. By doing so, it outranked US cities such as Silicon City (3), Austin (7) and Boston (9). Apart from Bengaluru, Hyderabad (5), Pune (13), Chennai (17), Mumbai (25) and… Read More »
The e-commerce boom seems to be over as far as real estate space absorption is concerned in Bengaluru. Although Bengaluru witnessed a strong growth in office market transactions in 2016 with the absorption of 11.4 million sq ft, the share of e-commerce in the total office space declined drastically. The share of e-commerce was just… Read More »
Led by Bengaluru, office space lease activity rose last year to breach the 40 million-sq ft mark in the country. Much of the demand came from the IT and ITeS sectors and financial services companies in leading cities in India, an independent property consultancy said. Gross space absorption rose 9 per cent to about 43 million… Read More »
Coworking space provider Instaoffice has forayed into the Bengaluru market by announcing their plans to launch two offices in Indiranagar. With one office at 100 Feet Road, the other at Double Road in Indiranagar, the company will offer over 150 seats in total to the city known for its startup culture. “Indiranagar is an ideal location for… Read More »
Piramal Group’s financial services arm Primal Fund Management (PFM) has surpassed Rs 10,000 crore in aggregate investments in South India, the company’s proprietary book stated. This forms one third of the firm’s commitment to clearing Rs 32,000 crore debt and equity to real estate developers across India. According to Piramal, the Rs 10,000 crore milestone… Read More »
Flipkart has decided not to take up 40% of the office space in its new campus in Embassy tech village in Bengaluru even as the country’s biggest ecommerce company looks to cut costs and reduce losses, said multiple people aware of the matter. Flipkart, which is undergoing a restructuring drive, will now take 1.2 million sq… Read More »
India’s leading shared office provider BHIVE Workspace has launched its largest co-working office in the heart of the Bengaluru city. The new office will be located at Prestige Towers, Residency Road and will have a capacity of over 600 members. With this, the company will strengthen its position as the largest co-working space provider in… Read More »
Infosys Technologies is locking up huge office spaces across the country, and has leased over 9 lakh sq ft office space across major cities to expand its business. In a recent transaction, Infosys Technologies has picked up over 2,10,000 sq ft office space on lease in Bhartiya City at Thanisandra Road in Bengaluru, said two persons… Read More »
Consultancy and management services provider Accenture has leased around 280,000 sq ft office space on a long-term lease at Bagmane World Technology Center IT SEZ in Bengaluru, said two persons familiar with the development. The lease, which was formalised early this year, has a monthly rental of Rs 59 per sq ft, that translates into an… Read More »
