In 2017, nearly 11.1 million sq. ft. of office supply will be completed in Bangalore, 50% of which will be concentrated in the ORR belt with the remainder of the supply to be spread across Whitefield, North Bengaluru and Electronic City, said a recent report by Colliers international. Although the future supply pipeline looks substantial… Read More »
According to the report, coworking operators leased only 1.2 million sq ft in 2016, which accounted for 3% of the overall leasing volume. “We also foresee that the concentration of coworking space will intensify further in Bengaluru, Mumbai, and Gurugram (Gurgaon) due to the availability of adequate infrastructure and opportunities for start-ups in those cities,”… Read More »
Property developer Nitesh Estates said it will move heavily into commercial real estate with plans to set up Grade A office space of about 5 million sqft in Bengaluru in the next three years. Nitesh, which has so far focused on residential projects for the middle and high income groups, will invest about Rs 1,500… Read More »
Real estate firm Godrej Properties has entered into an agreement with Shivam Realty to develop a housing project in Mumbai. The five-acre project will have a saleable area of one million square feet. “Godrej Properties Ltd has entered into a development management agreement with Shivam Realty to develop a residential group housing project off the… Read More »
Housing and commercial infrastructure project developers have now started developing sustainable habitats. Developers such as BESTECH India, Madhya Pradesh Housing and Infrastructure Development Board, Madhya Pradesh Police Housing and Infrastructure Development Corporation, Ireo Hospitality Company, Vatika Ltd and Conscient Infrastructure have tied up for a Green Rating for Integrated Habitat Assessment (GRIHA) for the same.… Read More »
Non-banking finance company Altico Capital today said it will provide a credit line of upto Rs 300 crore to realty player Phoenix Group. “The funding, which shall be made in tranches is proposed to be used by Phoenix largely towards refinancing of some existing lenders and for construction funding across two of its projects in… Read More »
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 »
