InstaOffice, a start-up that offers managed office space on a sharing basis, said on Monday it raised an undisclosed pre-Series A round led by Globevestor, a California, US-based venture capital firm that has backed car-rental service Zoomcar, education portal OnlineTyari and lending platform Rubique. Angel investors including Toppr co-founder Zishaan Hayath, Karan Chellani, managing partner… Read More »
Donald Trump’s election as the next US president won’t alter the Trump Organization’s India business plans. “The Trump Organization currently has five active projects in India (four residential and one office tower) and those developments will proceed as planned. They will remain under the Trump brand,” a Trump Organization spokesperson told ET. “We are incredibly… Read More »
While India’s residential real estate market is currently facing a slump, the commercial real estate market is looking bright. Strong economic growth and growth expectations, and high-growth sectors such as e-commerce and pharmaceuticals are driving demand for office space and warehousing. While demand is on the rise, supply of good quality assets is limited resulting in… Read More »
Mark Machin, who worked as CPP Investment Board’s (CPPIB) first president for Asia, was recently named president and chief executive of Canada’s largest pension fund and is responsible for leading its investment activities. As of 30 September, the CPP Fund had net assets of Canadian $300.5 billion. CPPIB opened its India office in 2015 and… Read More »
Chennai is witnessing shortage of quality office space. Notwithstanding this, office space absorption levels in the city rose to 5.25 million sft in 2016, from 5 million sft in 2015. Engineering and technology giant GE is setting up shop in Chennai. The Fairfield-Connecticut headquartered company will set up a back office and processing centre across 1.7… Read More »
Commercial real estate absorption is likely to be affected with the software industry body Nasscom lowering IT export growth target to 8-10% for 2016-17 amid global macroeconomic headwinds, including the fallout of Britain’s exit from the European Union as well as Donald Trump’s victory in the US presidential polls. At the start of the year,… Read More »
Consumer durables firm Samsung India Electronics Ltd has signed a deal to take up around 1 lakh sqft of office space on lease to set up its new corporate office at Oberoi Realty Ltd’s commercial property Commerz II in Goregaon suburb of Mumbai, three people aware of the development said. The Korean company will pay… Read More »
The outlook for 2017 is likely to be robust too with demand from manufacturing, logistics and consumer goods besides the information technology and outsourcing sectors. A paradigm shift in commercial space leasing is likely to boost demand, as firms that historically bought space prefer leasing to accommodate changing needs. Higher use of technology has made… Read More »
Growth in the Indian commercial sector is expected to positively impact the ‘workspace solutions industry’ in the coming years. The sector is expected to witness 10% year-on-year growth in the next five years, according to the industry experts. Workplace solution involves providing end-to-end commercial real estate solutions to companies across sectors – from concept to… Read More »
The price of Brazilian commercial real estate has continued to contract, signaling the sector remains vulnerable to the effects of the country’s recession, according to market data released Tuesday. The monthly FipeZap indicator showed commercial property prices dropped 0.45% in November from the prior month, extending year-to-date losses to 3.18%, the research group said. In October, commercial… Read More »
