In one of the largest office leasing transactions so far this year, IDFC Bank has picked up an entire office building spread over 1.80 lakh sq ft on lease in K Raheja Corp’s mixed-use development Mindspace in Navi Mumbai’s Juinagar locality, said two persons familiar with the development. The lease is for five years with… Read More »
Mumbai-based collaborative co-working space rental company, Awfis Space Solutions has raised $20 million (about `128 crore) from Sequoia India and plans to use the funds to expand its network of centres, launch new products and services, and enhance its technology platform. With this infusion, as part of a Series-B round, the total capital raised by… Read More »
Swiss bank UBS has set up its office on part of recently leased 4 lakh sq ft space in K Raheja Corp’s Mindspace complex in Navi Mumbai’s Airoli locality. The new office of the Zurich-headquartered, NYSE-listed multinational bank will provide IT infrastructure support to UBS’ international operations and also house its global service center hub.… Read More »
Lets re-look at our past ten infographic highlights for the Indian CRE Market. Bangalore to witness more than 9 msf of lease expiries in 2017 Demonetization impacts Mumbai office sales negatively 10,000+ sf deals dominate Gurgaon absorption in 2016 3,000 Crores (~ $ 0.5 Bn) annual rents expiring across India in 2017 2.6 msf lease… Read More »
Apr 17 Realty firm Godrej Properties has tied up with the taj group to develop a luxury hotel project in Mumbai. Godrej Properties said it has “partnered with Taj Hotels Palaces Resorts Safaris to develop a world-class Taj brand hotel at its flagship project, The Trees, at Vikhroli”. The Taj hotel will manage this property… Read More »
Private equity giant Blackstone India’s REIT (Real Estate Investment Trust) listing is likely to happen in mid-2017, ahead of which the company may undertake a corporate restructuring, demarcating its office spaces from the retail assets, geography-wise. Blackstone is planning to list two separate REITs for its office assets: one with Pune-based Panchshil Realty, and the… Read More »
The gross office space take-up in India amounted to 9.3 million sq ft in the first quarter ended in March, up 8% from a year ago. The market also recorded about 2.5 million sq ft of pre-commitments signifying healthy demand, showed a Colliers Research report. Five months on from demonetisation, occupiers’ markets across India’s major… Read More »
Falling footfalls in Bhandup’s Magnet Mall, one of Mumbai’s biggest, has forced its developer to shut down and revamp the 10 lakh sq ft premises into an office-cum-retail complex. Over the past few years, several malls across the country, including Mumbai, have been converted into commercial or residential complexes because of poor business. But market… Read More »
Mumbai accounted for 18 per cent of office space absorption — the second highest in the country— in the first quarter of 2017, said a report from real estate consultancy CBRE. While this was on a par with Bengaluru, the National Capital Region (NCR) ranked first, accounting for 19 per cent of all transactions. According… Read More »
The Competition Commission of India (CCI) has approved global private equity firm Blackstone’s plan to acquire stakes in real estate firm K. Raheja Corp’s (KRC) commercial office portfolio. Blackstone has been the front-runner to buy 15% stake in the K. Raheja Corp’s commercial real estate business for $250-300 million. The Mumbai-based developer’s office portfolio is… Read More »
