Ecommerce major Snapdeal is rationalizing its offices and is moving into co-working hubs instead of operating from leased offices in an effort to trim costs. The company has vacated its office with 200-seat capacity in Mumbai’s Malad suburb and picked up a 90-seat office in a co-working hub in Andheri, said three persons familiar with… Read More »
Nearly 9.6 million sq ft Grade A office space was absorbed during the July-September quarter of this year, a report said. According to a study of nine major metros by property consultant, office absorption witnessed sustained momentum, with Grade A absorption totalling 9.6 million sq ft, making it 28.26 million sq ft so far in 2016. “Although… Read More »
The capital region of Andhra Pradesh is faced with severe shortage of office accommodation. As many as 40 corporate houses and IT companies have been unsuccessfully scouting for office accommodation for the last one year in Vijayawada and surrounding areas. Even Visakhapatnam city does not have sufficient space to house private offices. About 30 IT companies… Read More »
Infrastructure sector recorded a growth rate of 5 per cent in September, the highest in three months, on account of healthy performance by cement, steel and refinery products. The growth rate of the eight infrastructure sectors, coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity, in September 2015 was 3.7 per cent. The… Read More »
Swiss bank UBS has entered into an agreement to pick up 4 lakh sq ft of office space on lease at realty developer K Raheja Corp’s IT Special Economic Zone Gigaplex at Airoli in Navi Mumbai in one of the largest occupier lease transactions, three persons familiar with the development said. The Zurich-headquartered, NYSE-listed multinational… Read More »
India’s leading shared office provider BHIVE Workspace has launched its largest co-working office in the heart of the Bengaluru city. The new office will be located at Prestige Towers, Residency Road and will have a capacity of over 600 members. With this, the company will strengthen its position as the largest co-working space provider in… Read More »
MPS Group on Saturday announced multiple projects in the residential and commercial segments of property development in Kerala. The biggest project is a convention centre at Thiruvananthapuram, with a built up area of 2.5 lakh square feet. “This will be developed on 14.5 acres of land we are holding at Vazhamuttom, on Thiruvananthapuram-Kovalam stretch,” said M… Read More »
Infosys Technologies is locking up huge office spaces across the country, and has leased over 9 lakh sq ft office space across major cities to expand its business. In a recent transaction, Infosys Technologies has picked up over 2,10,000 sq ft office space on lease in Bhartiya City at Thanisandra Road in Bengaluru, said two persons… Read More »
At just over 0.09 million sq ft, overall transaction volume in office space was unable to pick up in Kolkata this quarter as well said a recent report. Lease activity was driven by assortment of industries including Technology firms which shared about 33% of the absorption pie while, Engineering firms came in next at 25%… Read More »
The demand for commercial real estate across the country is getting stronger and is witnessing a sustained momentum. The office space absorption across top 9 property markets has seen a sustained growth with total 28.3 million sq ft picked up during the first nine months of 2016. Last year, commercial real estate in India registered a… Read More »
