Spaces, an Amsterdam-born co-working space provider, has launched its first shared-space in Cyber City, Gurgaon. Spaces along with five other brands i.e. Regus, Signature, Open Offices, Kora and MOS are the subsidiary of IWG, a global workplace provider headquartered in Brussels. The 30,000 sq ft of co-working space in Gurgaon has 430 seats capacity. The… Read More »
Indian cities of Bengaluru, Chennai, Hyderabad and Pune are likely to outstrip other cities in the Asia-Pacific region (APAC) in investments in office assets, predicts global property consultant Cushman & Wakefield. The agency said, while the real estate investment volumes in Asia Pacific are expected to hit $611 billion in 2017, India is projected to… Read More »
While there was no addition of fresh supply in the office space market in Kolkata, the first quarter of the new calendar year took off on a positive note in the city with absorptions higher than that in same period last year. With 0.2 million sq ft of office space absorption between January and March,… Read More »
In one of the largest office leasing transactions so far this year, IDFC Bank has picked up an entire office building spread over 1.80 lakh sq ft on lease in K Raheja Corp’s mixed-use development Mindspace in Navi Mumbai’s Juinagar locality, said two persons familiar with the development. The lease is for five years with… Read More »
Apple has taken up additional space in Gurgaon, a few floors above its existing office which CEO Tim Cook visited last year, during his maiden trip to India. According to people aware of the development, Apple has taken space to seat a number of new executives that it plans to hire over the next few… Read More »
Beleaguered online marketplace Snapdeal is in the process of vacating over 60% of its office space in Gurgaon as it moves into a single tower in line with its shrinking operations. The development comes at a time when the e-commerce company is on the path to a… Read More »
Mumbai-based collaborative co-working space rental company, Awfis Space Solutions has raised $20 million (about `128 crore) from Sequoia India and plans to use the funds to expand its network of centres, launch new products and services, and enhance its technology platform. With this infusion, as part of a Series-B round, the total capital raised by… Read More »
IT Parks and Offices led leasing activity last year in Pune with 65% contribution in absorption. Furnished spaces seemed to be Occupiers choice last year in Pune. 60% of the total deals in 2016 were furnished with average rentals between INR 60-70/sf/month. *Grade A data only and Includes renewals To get more CRE market insights login to www.propstack.com
Samara Capital, a mid-market India-focused private equity fund, has bought out 100% of Sanjay Maintenance Services Pvt. Ltd. (SMS), one of the largest facilities management for an undisclosed amount. Sources said Samara had invested about Rs 140 crore ($20 million) for the acquisition and plans to spend an additional $30 million behind bolt-in buyouts for… Read More »
Swiss bank UBS has set up its office on part of recently leased 4 lakh sq ft space in K Raheja Corp’s Mindspace complex in Navi Mumbai’s Airoli locality. The new office of the Zurich-headquartered, NYSE-listed multinational bank will provide IT infrastructure support to UBS’ international operations and also house its global service center hub.… Read More »
