Major co-working operators leased only 1.2 million sq ft in 2016, which accounted for 3 per cent of the overall leasing volume in our country. More than 50 per cent centres are based in Bengaluru, NCR and Mumbai with 60 to 80 per cent occupancy. Colliers, in its report on co-working space forecasts that the… Read More »
Coworking firms leased 0.12 million square feet of office space in Gurugram in 2016, comprising 10% of the overall coworking leasing across key cities, and the demand is set to grow further, according to property consultancy Colliers International. Location such as Sohna Road, Golf Course Road, Sector 44, Sector 29 and Udyog Vihar emerged as… Read More »
Real estate requirements from software firms—the biggest occupiers of commercial office buildings in emerging markets like India— slowed down in 2016 and may further get impacted this year due to global uncertainty and growing technological disruptions, said the top executive of global consultant JLL Inc. In an interview with Mint, Christian Ulbrich, global chief executive… Read More »
Sri Lankan capital Colombo is the most suitable to be South Asia’s commercial hub, says Liang Thow Ming, Chief Marketing Officer of the US$ 1.4 billion Colombo Port City project being executed by the China Harbor Engineering Company (CHEC) . Liang told this correspondent that Colombo is not only South Asia’s cleanest and the most… Read More »
The Competition Commission of India (CCI) has approved global private equity firm Blackstone’s plan to acquire stakes in real estate firm K. Raheja Corp’s (KRC) commercial office portfolio. Blackstone has been the front-runner to buy 15% stake in the K. Raheja Corp’s commercial real estate business for $250-300 million. The Mumbai-based developer’s office portfolio is… Read More »
10000+ sf deals constituted 1/3rd of the total lease deals in Mumbai in 2016. Smallest deal size of up to 2,500 sf contributed to 26% of the deals last year. Largest deals of above 50,000 sf had the lowest average rental value of INR 102/sf/month, while 5,000 sf to 10,000 sf deals had highest average rental value… Read More »
The demand for student housing is expected to see a rapid growth in India and real estate firms should tap opportunity in this segment to beat current slowdown in the residential market, according to JLL India. The consultant advised builders to convert their under- construction housing projects into student housing, which has immense scope to… Read More »
Delhi’s Connaught Place is the world’s 9th most expensive office location with annual prime rent of USD 105.71 per sq ft, says property consultant CBRE. Mumbai’s Bandra Kurla Complex (BKC) is at 19th position while the central business district (CBD) of Nariman Point is at 30th place in the CBRE’s Global Prime Office Rents report.… Read More »
Private equity funding in Indian office assets in 2017 will surge four-fold to $3.5 billion — beating the 2014 peak, said international property consultant Cushman & Wakefield, pointing to unabated interest of global and domestic institutional investors in commercial real estate. Buoyed by stability in the commercial sector as well as potential to list under… Read More »
Information Technology (IT) sector continued to dominate the leasing activity in India in 2016. Together, IT and BFSI contributed to nearly 69% of the leasing volume last year. Bangalore dominated the city-wise contribution to IT sector leasing with 36.7% share, followed by Pune. *2016 Grade A lease data only
