Coworking space provider Instaoffice plans to lease around 1 lakh sq ft of office space by March next year and expand operations to Bangalore and the National Capital Region. “We are focusing on demand based expansion and aim to set up 1,500-2,000 desks, leasing around 100,000 sq ft by the end of this financial year,”… Read More »
Bengaluru-based real estate developer RMZ Corp. is planning to completely move out from the residential business as it sets out on an expansion drive to boost its commercial portfolio across major cities in the country. Backed by Qatar Investment Authority, the company is in the process of rapidly expanding its commercial real estate business as it… Read More »
RMZ Corp, the Bengaluru-based property developer backed by Qatar Investment Authority (QIA), is looking to file a prospectus for a real estate investment trust (Reit) by April next year. The company is looking to list its Reit by the third quarter of 2017, RMZ Corp chairman Raj Menda told Business Standard. “Preparation are at a preliminary… Read More »
Prestige Estates Projects that recently bought back Singapore headquarters fund CapitaLands stake in a mall project in Bangalore, is converting it into a IT business park due to lower supply in this segment. The Bangalore based company now plans to set up 1 mn sft IT park on the 4 acre property in The city. “There… Read More »
Sapient, a global services company that helps clients transform in the areas of business, marketing, and technology, today inaugurated its world’s single largest premise in Bengaluru. The 4,00,000 sq. ft. area will add 3500 new workstations and take Sapient’s total India capacity close to the 10,000 mark. Rajdeep Endow, Managing Director, Sapient India said, “We are a company… Read More »
The IT capital of India has only 3 per cent vacancy in office space, an all-time low, against the top seven cities in the country as strong demand from corporates sucks up space but builders are moving to pre-fabricated buildings and customised offices to stay in business. Bengaluru is followed by other IT hubs like Pune… Read More »
Mobile chip maker Qualcomm is close to acquiring about 0.5 million square feet of office space in Bengaluru to expand its operations in the city, according to people familiar with the matter. The company is looking for space in Outer Ring Road, which is home to numerous multi-national companies including Google, Cisco and Visa, sources… Read More »
Apple has agreed to lease more than 40,000 square feet of office space in Bengaluru, where the US-based iPhone maker intends to set up a development centre, three people familiar with the matter said. The new facility is at Galleria, a 3 lakh sqft office space that belongs to Standard Brick Tile Company in North Bengaluru.… Read More »
The office space crunch in the country’s tech capital has prompted a top developer to acquire an upcoming luxury hotel project to expand its business park. RMZ Corp is acquiring, in what would have been, Bengaluru’s second Shangri-La hotel for little over $100 million (Rs 700 crore) to build an additional 2.5 million sqft office… Read More »
Office space absorption dropped in Bengaluru in the second quarter ended June, mostly due to lack of ready-to-move-in quality office space in some important micro-markets. However, the overall quarter stood out, helped by the entrance of Apple and Diageo. Gross absorption dipped to 2.3 million sft, from 2.75 mn sft in the corresponding quarter last… Read More »
