India’s digital payment giant Paytm opened its third office in Bengaluru renting a 150-seat space in a flexible office in Bengaluru as it seeks to expand up presence in the startup capital of India. Paytm is on a head count expansion spree to bring on board 2,000 executives in South India alone to widen its… Read More »
Large companies are seeing sense in employees working out of a co-working space near their homes, as urban commutes are getting longer. Co-working spaces like CoWrks, InstaOffice, 91springboard, Awfis finds that up to 40-50% of their space is now occupied by SMEs and corporates and not just startups. “When you enter a corporate office, you… 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 pan-India office space vacancy in 2016 at 15 per cent was the lowest in eight years. The sharpest decline in pan-India office vacancy was seen between 2013 and 2016 when it went down from 18.5 per cent to 15 per cent. “On the back of positive office space demand from sectors such as manufacturing,… Read More »
Canada Pension Plan Investment Board and mall developer The Phoenix Mills have entered into a pact to set up a strategic investment platform for retail real estate properties in India. This is CPPIB’s maiden retail real estate venture in India. CPPIB will initially own 30% of the platform with an equity commitment of around Rs… Read More »
The Salarpuria Sattva Group has bought 10 acres of premium land in Hitec City in Hyderabad from BPTP, a Gurgaon-based builder for an undisclosed amount, a person with direct knowledge of the deal told ET. “The deal was closed last week and Salarpuria plans to build 4 million sq ft office space,” the source said.… Read More »
SoftBank-backed ecommerce firm Snapdeal is planning to give up about half of the space in its main corporate office in Gurugram as part of a cost-cutting drive. After layoffs, the online marketplace is planning to leave ASF Tower, where it occupies about 1.5 lakh sq ft, and some part of ASF Center, which covers about… Read More »
In a report that could bring cheer to techies in Kerala, real estate consultant CBRE has termed Kochi an emerging IT destination in the country. According to the report, the growing demand for office space, especially in the IT sector, is a clear sign the city is all set to become the next technology hub.… Read More »
Coworking firms leased 0.12 million square feet of office space in Gurugram in 2016, comprising 10% of the overall coworking leasing across key cities, and the demand is set to grow further, according to property consultancy Colliers International. Location such as Sohna Road, Golf Course Road, Sector 44, Sector 29 and Udyog Vihar emerged as… 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 »
