A jump in Manhattan office leasing activity in July indicates more resilience in New York’s commercial real estate market than recent data has suggested, with asking prices poised to surpass their record high in 2008. Data showing more companies are renewing their leases rather than moving to a new location have been seen as a sign… Read More »
Capital values for offices in the City of London dropped 6.1 percent in July from a month earlier, in the aftermath of Britain’s vote to leave the European Union, a real estate firm said on Monday. Capital values for offices in central London and the rest of the UK dropped by 4.1% and values for all… Read More »
Foreign buyers are helping to drive a jump in sales of top-tier Canadian office buildings, industry players say, with a soft currency and the country’s relative stability helping attract interest from abroad. While the Canadian economy is struggling with the drag from weak oil prices, global events like Britain’s vote to leave the European Union have… Read More »
Mobile chip maker Qualcomm is close to acquiring about 0.5 million square feet of office space in Bengaluru to expand its operations in the city, according to people familiar with the matter. The company is looking for space in Outer Ring Road, which is home to numerous multi-national companies including Google, Cisco and Visa, sources… Read More »
Technology majors do it globally, and, for a while now, Indian tech players have also been hiring the best architects in the business to make their offices Gen-Y friendly. But now, a bank wants to turn the idea of a ‘traditional bank’ on its head. Yes Bank is designing its upcoming facility in Chennai to… Read More »
At least a quarter of India’s top-rated office space of 464 million sq ft is expected to get listed by 2019 with an estimated valuation of around $18 billion (Rs 1.2 lakh crore), according to a study. Large institutional investors in India’s commercial real estate are gearing up to list their real estate investment trusts… Read More »
Shortage of quality office space in big Indian cities has pushed up pre-commitments or reservations of property even before it is ready, among retail and technology giants, by as much as 50% in the past six months, according to real estate consultants. IT companies like Apple, GEP Solutions, GCI and Here Solutions have made pre-commitments for… Read More »
The Mamata Banerjee government has permitted Shapoorji Pallonji Group to sell 15 acres of its 50 acre land at Action Area III of New Town-Rajarjat to information technology giant Cognizant Technology Solutions (CTS). Significantly, this 50-acre land parcel owned by Bengal Shapoorji Developers, a subsidiary of Shapoorji Pallonji group, enjoys special economic zone (SEZ) status. The group… Read More »
Riding on revenue growth, Tata Consultancy Services (TCS) has inked two large office space deals in the last quarter. TCS, India’s largest software firm, signed a 400,000 sq ft office space deal in Okaya Tower in Noida’s Sector 62. It is expected to pay a rent of Rs 19 crore a year, or Rs 40… Read More »
Amazon, the Seattle-headquartered e-commerce giant, has signed two high-profile office space deals in India during the April to June quarter (Q1), in sync with its rush to invest in the country. Amazon founder and Chief Executive Officer Jeff Bezos recently announced an investment of $3 billion. In 2014, the company made a commitment for $2-billion… Read More »
