New Delhi’s Central Business District Connaught Place is seventh among the most expensive prime office markets in the world with an annual occupancy cost of $149.71 per sft, according to the latest edition of property consultancy CBRE Research’s Global Prime Office Occupancy Costs survey. Bandra Kurla Complex (BKC), Mumbai’s Alternative Business District, stood at 19th… Read More »
Realty developer K Raheja Corp has started the process to sell around 20% stake in its commercial or income-producing office portfolio spanning 20 million sq ft, said two persons familiar with the development. The company is looking to fetch Rs 2,700 crore to Rs 3,000 crore through this stake sale. “While the intention to list… Read More »
A housing boom in China’s wannabe “Silicon Valley” of Shenzhen risks undermining the city’s tech boom as young professionals consider moving out to avoid the highest residential prices in the country. In the space of four decades, Shenzhen has transformed itself from a fishing village into a manufacturing centre and now a tech hub – attracting… Read More »
Private equity funds are exiting residential real estate investments primarily through the refinancing route at the end of their investment tenure as against the normal process of cash flow accruals. Instances of several fund exits in recent months show that delays in projects and slow sales have made it tough for property developers to repay… Read More »
The state government has permitted the AP State Road Transport Corporation (APSRTC) to covert its vacant land into commercial use zones (CUZs) or multiple use zones (MUZs). All the urban civic bodies and urban development authorities as well as the Capital Region Development Authority in Amaravati will be allowed to use the CUZs and MUZs.… Read More »
Aequs, which owns special economic zone (SEZ) at Belagavi where it runs aerospace and automotive businesses, looks at consolidating its position in the aerospace business, in the next five years. “We have enough order book with us and quite good acquisitions abroad. Our SEZ also houses leading technology companies in aerospace. Now we want to… Read More »
Blackstone Group, GIC of Singapore and Brookfield Asset Management have fired slightly over $1-billion separate bids to acquire a 40% stake in DLF’s commercial property unit that owns rent-yielding assets. The three heavyweight investors are among those who made offers as the deadline for filing bids ended last weekend, sources directly familiar with the matter… Read More »
Several top PE firms and other investors have bought income-producing office assets across the country but the easy pickings seem to have run out. While their appetite remains intact, funds are faced with a shortage of good quality investible office space, and there seems to be a mad rush for what’s left. The biggest deal… Read More »
A retail investor has to put in at least Rs.2 lakh in REITs and dividend rules allow for stable income Real Estate Investment Trusts (REITs) are in the news, with analysts bullish about the potential in India and the Securities and Exchange Board of India looking to tweak norms – a process that will begin… Read More »
With a massive market, easily understood product, strong team and upcoming favourable regulatory change, Propstack looks ready to seize the commercial real estate opportunity in India. Co-founder Raja Seetharaman shares his thoughts on the same. Tell me about your founders and how you started? We are three co-founders with backgrounds in Commercial real estate (CRE) (Insignia,… Read More »
