Microsoft is close to signing a nine-year lease deal with Prestige Group for a 600,000 sq ft office space in Bengaluru, three people aware of the development said. “The deal is in the final stage of closure,“ they said, adding that the lease is renewable every three years. The Redmond-based technology company , which currently… Read More »
US-based fintech company FIS Solutions has renewed its lease of over 2.28 lakh sq ft office space at Westend Center One in Pune’s Aundh locality, two persons familiar with the development said. The Jacksonville, Florida-based company, earlier known as Sunguard Solutions, will pay monthly rental of Rs 54 per sq ft, taking the total lease… Read More »
2.6 msf lease expiries in hyderabad in 2017. Total Monthly Rental Revenues IT SEZ contribute to 48% of the expiries *Grade A data only and Includes renewals
Hyderabad has become the new investment destination for Bengaluru’s commercial property developers at a time when the city’s real estate market is on a revival mode after almost half a decade of political turmoil. Companies such as DivyaSree Developers, Salarpuria Sattva, Embassy and RMZ Corp have built or are in the process of building a… Read More »
US private equity major Blackstone Group has moved closer to inking a $250-300-million deal for 15% in K Raheja Corp’s 20-million sq ft income-producing office portfolio, said two persons familiar with the development. “An application with regards to the proposed deal has now been filed with anti-trust watchdog Competition Commission of India. The transaction is… Read More »
Hotel room in India has just shrunk.Entrepreneur duo of Shalabh Mittal and Hiren Gandhi have launched a hotel in Andheri in Mumbai with pods between 50 square feet and 90 sq ft. Urbanpod, the 140-unit hotel, started operations on Wednesday and is the only such offering in the country. It offers classic (single occupancy), private… Read More »
Singaporean sovereign wealth fund GIC is in exclusive talks to buy a 40 per cent stake in a commercial rental unit of India’s biggest listed property developer by sales, in what would be the latest big foreign bet on the country’s real estate market. DLF, a 71-year-old company focused on developments in northern India, said… Read More »
Non-banking financial company (NBFC) Altico Capital today said it has infused Rs 180 crore in Mumbai-based realty developer Sheth Corp.The money will be utilised predominantly for the construction of a residential project ‘Project Zuri’ in Thane. The project has received a good response in its recent pre-launch sales which establishes the marketability of the product,… Read More »
Fort House, the home of VideoconBSE -0.29 % Group, is getting a new owner in a deal that would turn heads: The Rs.300-crore transaction is among the biggest in South Mumbai this year, but would be towards the lower end of the rate gradient for a property of that size and in that location. Dawat-e-Hadiyah,… Read More »
Promoters of realty giant DLF K P Singh and his family have decided to sell their entire 40% equity in their flagship company in commercial space DLF Cyber City Developers (DCCDL) to Singapore-headquartered private equity firm GIC, formerly known as Government of Singapore Investment Corporation. The statement issued by the company did not divulge the… Read More »
