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 »
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 »
Allianz partners Pallonji for its first India deal German insurer Allianz is close to striking a deal with construction player Shapoorji Pallonji for approximately $400 million (R2,670 crore), three people familiar with the development confirmed to FE, reports Priyanka Ghosh in Mumbai. Allianz is looking to invest as much as $5 billion in India’s real… Read More »
3000 Crores (~ $ 0.5 Bn) Annual Rents Expiring Across India in 2017. Approximately 30 msf space of nearly 1600 deals contributing more than 255 crores to monthly rental revenues to expire in 2017. Top 3 CRE Markets -Bangalore, Gurgaon and Mumbai together contribute approximately 73% to the volume of lease expiries in 2017. Bangalore… Read More »
In a rare sale deal in South Mumbai’s prime business district of Nariman Point, The Indian Express media group has bought 15,645 sq ft of space in the Mafatlal Centre building for Rs 34 crore or Rs 21,732 a sq ft from Japanese company Mitsui & Co, according to registered documents. The deal includes four… Read More »
Flipkart has substantially scaled down its need for a huge office space in Bengaluru, which it leased almost two years back, as e-commerce companies in the country struggle to find new avenues of growth and raise fresh funds amid sharp cuts in their valuations. India’s biggest e-commerce company is now looking to lease just 0.83… Read More »
Total volume of Lease expiries in Bangalore is expected to cross 9 msf in 2017. Witnessing quarterly increase since beginning of year, total area of lease expiries in Q4 2017 is expected to be above 3 msf. The 200+ leases expiring in 2017 have average monthly rent of INR 57/sf/month and add upto nearly 56 crores… Read More »
Godrej Properties has invested Rs 280 crore across two deals in Bangalore and Thane so far from its $275 million residential real estate platform formed in association with Dutch pension fund APG Asset Management. The platform named Godrej Residential Investment Program II made its first investment by acquiring 80% of the equity share capital in… Read More »
Total no. of transactions decreased Y-o-Y in 2016. However, no. of 10,000+ sf transactions increased. This led to in 24% increase in total absorption Y-o-Y; majorly contributed by 10,000 + sf deals in 2016. *Grade A data only
