According to a real estate consultant, first half (H1) of 2016 witnessed the highest annual private equity (PE) investments in retail with over Rs. 3,350 crore being invested, compared to only Rs. 250 million invested in the first half of 2015. This is the highest annual PE investment made since 2008. Owing to factors such… Read More »
Bengaluru-based real estate developer RMZ Corp. is planning to completely move out from the residential business as it sets out on an expansion drive to boost its commercial portfolio across major cities in the country. Backed by Qatar Investment Authority, the company is in the process of rapidly expanding its commercial real estate business as it… Read More »
The State Bank of India has decided to shift its 60-year-old local head office from Lal Darwaza in Ahmedabad to Gujarat International Finance Tec-City (GIFT) in Gandhinagar. On Monday, the foundation stone of SBI’s new office building was laid by CM Vaijay Rupani in presence of SBI chairperson Arundhati Bhattacharya. As part of its move,… Read More »
The Anil Ambani controlled Reliance Infrastructure has filed its papers with securities and exchange board of India (Sebi) last week seeking approval for its trust structure. They are starting the documentation process for its draft red herring prospectus (DRHP) from today and plan to finish it by October end,” said the first person mentioned above,… Read More »
Tata Communications has picked up 60,000 sq ft of office space on lease at Parinee Crescenzo in Mumbai’s Bandra-Kurla Complex, said two persons familiar with the development, making it the largest office space transaction in the alternative business district so far this financial year. “The company has picked up the entire 15th floor in this 20-storey… Read More »
The world’s largest private equity manager Blackstone Group has entered India’s retailing sector by setting up a fully owned subsidiary Nexus Malls. The new entity will own and manage shopping centres in Asia’s third largest economy with a focus on turning around underperforming malls in the country. Nexus has already acquired AlphaOne malls in Ahmedabad and… Read More »
India’s second largest listed real estate developer Prestige Estates Projects plans to raise at least $300 million, around Rs 2,000 crore, by selling up to 40% stake in its rent-yielding commercial assets and has drawn interest from Canadian Pension Plan and GIC of Singapore. The southern developer has hired JP Morgan to advise on the… Read More »
The world’s largest private equity manager Blackstone Group, which is also the most prolific investor in Indian commercial properties, is finalizing plans to raise Rs 4,000 crore (about $600 million), through a listing of Real Estate Investment Trust (REIT) on the domestic stock exchanges, people directly familiar with the matter said. This will perhaps be… Read More »
A consortium of US-based investors that developed First International Finance Center (FIFC), a landmark commercial building in Mumbai’s financial district, Bandra Kurla Complex (BKC), plans to sell its stake in the property for around Rs. 1,500 crore, said two people aware of the development. Around 300,000 sq. ft of the total 657,000 sq. ft office complex… Read More »
UK commercial property values fell less sharply in August than the month before, a closely-watched index showed on Thursday, suggesting concerns about the impact of Britain’s vote to leave the European Union on the sector may be easing. Overall property values for UK commercial assets fell 0.65% year-on-year in August, the IPD real estate index, compiled… Read More »
