Realty firm Godrej Properties Ltd expects to monetise commercial properties worth about Rs 1,500 crore at Mumbai, Kolkata and Chandigarh over the next six months and reduce net debt, which now stands at Rs 3,278 crore. In September 2015, Godrej Properties had sold 4.35 lakh sq ft of office space at Bandra-Kurla Complex (BKC) in Mumbai… Read More »
Private equity major Carlyle Group-backed mortgage lender PNB Housing Finance has entered into an agreement to invest over Rs 300 crore in realty developer Parinee Group’s commercial project, said two persons familiar with the development. The total funding, to meet project expenses, will be provided in stages and the tenure of the facility is four… Read More »
US private equity major Blackstone Group is in advanced talks to acquire over 3.60 lakh sq ft spread over six floors in First International Financial Centre (FIFC) Tower in Mumbai’s business district Bandra-Kurla Complex for over Rs 850 crore, said three persons familiar with the development. FIFC has been developed by a consortium of US-based… Read More »
In one of the largest real estate transactions of this year, RMZ will acquire the remaining 50 per cent stake in Essar Group’s commercial project Equinox Business Park in Bandra-Kurka Complex, Mumbai, by the end of this year. The company will pay Rs 2,400 crore for the complete buyout, which will be funded by Qatar… Read More »
In one of the largest real estate transaction of this year, RMZ Corp will acquire 100% stake in Essar Group commercial project Equinox Business Park in Mumbai’s Bandra-Kurla Complex for about Rs 2,400 crore. “RMZ already hold 50% stake in the project the remaining stake buyout will happen by the end of this year. The… Read More »
Commercial realty data information and analytics firm, Propstack has joined the Massachusetts Institute of Technology’s (MIT) Centre for Real Estate as an industry partner to explore new data technologies with the potential to transform the organization of cities and built environment. Propstack is the first Indian company to join the MIT/CRE as an industry partner.… Read More »
Abbott, one of the largest healthcare product companies in India, has picked up an entire under-construction building with over 1.60 lakh sq ft built-up area in the Andheri suburb of Mumbai to set up an innovation & development centre, said two persons familiar with the development. The deal assumes significance as the lease will run… Read More »
Demonetisation has not slowed down the commercial property market, at least in Bandra-Kurla Complex (BKC). Consider this fact: In the past one month, several office lease transactions have been concluded in the business district. Most of these deals have taken place in Maker Maxity, the 18-acre office complex which is a joint venture between Mukesh… Read More »
Piramal Fund Management, the financial services arm of Ajay Piramal-led Piramal Group, has deployed Rs 700 crore collectively against two commercial properties, Reliable Tech Park and Empire Towers in suburban Mumbai. The funding suggests a possible revival in demand for real estate despite demonetisation that was seen as a dampener for the sector. The lender would… Read More »
THE MUMBAI Port Trust (MbPT) on Tuesday accepted proposals from six bidders shortlisted for a massive redevelopment project along Mumbai’s eastern seafront. According to MbPT, the project, covering 500 hectares of land along the waterfront, would revamp the eastern facade of the city in the coming years. The plan is to implement an infrastructural overhaul of… Read More »
