At the end of Q3 2016, India’s total Grade A office stock stood at 472 million square feet with an average vacancy rate of 15.3%. The average vacancy rate has been declining since 2013 amid strong demand from domestic as well as international office occupiers, and this trend is forecast to continue in the medium… Read More »
British commercial property capital values fell 2.4 percent in 2016, hurt by changes to stamp duty tax and Britain’s vote to leave the European Union, a real estate firm said on Tuesday. Retail property capital values saw the largest fall, declining 5 percent from a year earlier, while offices dropped 2.5 percent. Industrial property capital values… Read More »
Led by Bengaluru, office space lease activity rose last year to breach the 40 million-sq ft mark in the country. Much of the demand came from the IT and ITeS sectors and financial services companies in leading cities in India, an independent property consultancy said. Gross space absorption rose 9 per cent to about 43 million… Read More »
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 »
