The much awaited Real Estate Investment Trust (REIT) listing is inching closer to reality and India has rent- yielding office inventory of 537 million sq ft worth over $70 billion. According to a joint report by KPMG, Naredco, Hariani & Company and Knight Frank, titled ‘REIT-able Space in India: A Closer Reality’, $121 billion or… Read More »
Noida and Greater Noida continue to see expansion in office space absorption, despite issues of connectivity and uninterrupted power supply. Many IT companies find value in expanding back-end operations in the twin cities as rentals are still much lower than Gurgaon. Analysts say despite a slight increase in rates over the past two years, office… Read More »
With limited availability and high demand for high-quality office spaces in the city bringing about the lowest vacancy rates in three years and steadily increasing rents, Pune is facing a commercial real estate supply crunch. The market is opting for solutions ranging from converting the non-performing retail and hospitality space into offices, refurbishing of failed… Read More »
SoftBank Group Corp has invested $300 million in shared-office space company WeWork, the first installment of a multi-billion-dollar bet, according to a source familiar with the matter. SoftBank, the Japanese telecommunications and internet company, has made bold and wide-ranging bets in the technology industry, including India ride-service company Ola, San Francisco-based financial services startup SoFi… Read More »
With India emerging as a preferred investment destination, the country is expected to witness nearly USD 4.2 billion new capital in the realty sector in 2017, says Cushman & Wakefield. According to a report titled ‘The Great Wall of Money’ by the global consultant, new capital available for global real estate investment in 2017 is… Read More »
Global investment firm Blackstone Group Lp’s India subsidiary Nexus Malls is set to launch its first shopping mall in the country in Seawoods, Navi Mumbai, expanding its retail portfolio. Blackstone had bought about 1 million sq. ft of retail space in the Seawoods Grand Central Mall in 2016 from L&T Realty Ltd for Rs1,450 crore.… Read More »
Chennai recorded leasing volume of 1.5 msf in the first quarter of 2017 – highest for the same period in the last five years. This increase was driven mainly by renewals and expansion of existing tenants such as: Average rentals in Chennai were between INR 55-60/sf/month. Average deal size for Q1 2016 was 48,000 sf.
Vatika Business Center, a unit of real estate firm Vatika Group, has forayed into the coworking spaces segment with the launch of its first office in Gurguram and plans to open 50 more such centers across India in the next 4-5 years. The company has also formed a separate verticle for coworking spaces under the… Read More »
Around 10 real estate developers, including a Japanese company, have shown interest in the Indian Railways’ station re-development programme for Chennai Central railway station. Representatives of the companies attended a pre-bid meeting organised by Southern Railway on Friday. The area around the station is going to be developed in sync with the Central Square which… Read More »
L &T Realty Ltd, the real estate unit of India’s largest engineering company Larsen and Toubro, has secured approval to develop a special economic zone (SEZ) in north Bengaluru, though its focus will be on projects in west India, said a company official. The Mumbai-based firm plans to develop around 3 million sq. ft of… Read More »
