Amazon, the Seattle-headquartered e-commerce giant, has signed two high-profile office space deals in India during the April to June quarter (Q1), in sync with its rush to invest in the country. Amazon founder and Chief Executive Officer Jeff Bezos recently announced an investment of $3 billion. In 2014, the company made a commitment for $2-billion… Read More »
Office rentals have been on an upswing with the average rents going up by 8 per cent year-on-year (YoY) in first half of 2016. NCR, Pune and Bengaluru are cities that led the rally with rents moving up in the range of 10-14 per cent year-on-year during the same period, according to a property consultancy.… Read More »
While commercial real estate continues to record healthy pick-up, investors are still approaching the segment with caution. Private equity players and other investors believe that the euphoria around current growth may also lead to certain investment mistakes as was the case in the previous cycle between 2005 and 2008. In the past three years, about $1.6… Read More »
India’s only global Financial and IT hub, Gujarat International Finance Tec-City (GIFT City), is attracting interest from domestic and global IT & ITeS companies to set up operations there. More than 500 employees are working in some of the leading institutions that have already begun operations in GIFT domestic zone as well as in GIFT’s… Read More »
Brookfield, the Canadian asset manager could invest over $2 billion in India over the next 2-3 years to buyout upscale offices and commercial towers, stranded roads, power and utilities infrastructure as it aims to double its existing asset base in the country. Fresh from raising $14 billion to invest in infrastructure, believed to be the largest… Read More »
Office space absorption across key cities of India stood at 10.2 million sq ft during April-June quarter, registering around 46% on-quarter growth. The rise in absorption was led by Delhi National Capital Region (NCR) and Bangalore, which accounted for almost 50% of the total space take-up, said a property consultancy in a report. On the… Read More »
Taking away a major complaint of the Kejriwal government on non-availability of land for hospitals, night shelters or government offices, the Centre on Monday announced that DDA will provide plots for such facilities at Re 1 per annum. Announcing the lease rates for land for institutional purposes on Monday, urban development minister M Venkaiah Naidu said… Read More »
If one looks at the trends of Real Estate in the past five years, no city has inspired such commercial property demand as Bengaluru. So much so, the demand today is more than the supply. Its reputation as the Silicon Valley of India remains intact with a number of tech giants as well as emerging… Read More »
Lenders of Kingfisher Airlines have one again put on block Kingfisher House seeking at least Rs 135 crore. Last time, when banks attempted to sell the headquarters of the defunct airlines, at a reserve price of Rs 150 crore, it did not receive a single bid. Kingfisher owes Rs 7000 crore to lenders. Lenders have fixed August… Read More »
An Australia-based construction giant has cracked a deal worth $169.5 million with an Indian company to build a retail and hospitality development project in Mumbai. CIMIC Group Company Leighton Asia, through its subsidiary Leighton India Contractors, has entered into an alliance agreement to deliver phases two and three of the Maker Maxity project in Mumbai. According to… Read More »
