Technology majors do it globally, and, for a while now, Indian tech players have also been hiring the best architects in the business to make their offices Gen-Y friendly. But now, a bank wants to turn the idea of a ‘traditional bank’ on its head. Yes Bank is designing its upcoming facility in Chennai to… Read More »
At least a quarter of India’s top-rated office space of 464 million sq ft is expected to get listed by 2019 with an estimated valuation of around $18 billion (Rs 1.2 lakh crore), according to a study. Large institutional investors in India’s commercial real estate are gearing up to list their real estate investment trusts… Read More »
Shortage of quality office space in big Indian cities has pushed up pre-commitments or reservations of property even before it is ready, among retail and technology giants, by as much as 50% in the past six months, according to real estate consultants. IT companies like Apple, GEP Solutions, GCI and Here Solutions have made pre-commitments for… Read More »
Riding on revenue growth, Tata Consultancy Services (TCS) has inked two large office space deals in the last quarter. TCS, India’s largest software firm, signed a 400,000 sq ft office space deal in Okaya Tower in Noida’s Sector 62. It is expected to pay a rent of Rs 19 crore a year, or Rs 40… Read More »
Apple has agreed to lease more than 40,000 square feet of office space in Bengaluru, where the US-based iPhone maker intends to set up a development centre, three people familiar with the matter said. The new facility is at Galleria, a 3 lakh sqft office space that belongs to Standard Brick Tile Company in North Bengaluru.… Read More »
The office space crunch in the country’s tech capital has prompted a top developer to acquire an upcoming luxury hotel project to expand its business park. RMZ Corp is acquiring, in what would have been, Bengaluru’s second Shangri-La hotel for little over $100 million (Rs 700 crore) to build an additional 2.5 million sqft office… Read More »
It’s a new wave of investment that’s sweeping Hyderabad’s iPad-toting Gen Y populace off its feet these days. With a ‘savings’ deposit of Rs 10 lakh to Rs 12 lakh tucked neatly away in their accounts, this dividend-driven clan is giving a miss to the latest Honda ‘hot wheels’ to instead park their moolah in… Read More »
Even in the backdrop of global slowdown concerns, nearly 10.4 million sq ft of office space was absorbed in the country during April-June, backed by demand from sectors like IT, BFSI and manufacturing, a report said. According to a report, nearly 10.4 million sq ft of office space was absorbed during second quarter of 2016, registering… Read More »
Office space absorption dropped in Bengaluru in the second quarter ended June, mostly due to lack of ready-to-move-in quality office space in some important micro-markets. However, the overall quarter stood out, helped by the entrance of Apple and Diageo. Gross absorption dipped to 2.3 million sft, from 2.75 mn sft in the corresponding quarter last… Read More »
The chief executive of WeWork said on Monday that the co-working office space provider would hit a revenue run-rate of $1 billion next year. WeWork, one of the biggest ‘unicorns’ – startups worth more than $1 billion – recently raised more than $400 million at a valuation that sources pegged at more than $15 billion.… Read More »
