Major office hubs in Chennai continues to attract corporate occupies, during the first quarter of 2016, most of the demand for prime office space was driven primarily by the IT/ITeS, BFSI and insurance, engineering and manufacturing sectors, according to a recent CBRE report – India Office marketview – Q1, 2016. Read more: Economic Times
After investment banks, Maker Maxity, the plush office complex owned by Mukesh Ambani and Maker group in Mumbai’s famed Bandra-Kurla Complex (BKC) is also becoming home to global sovereign and pension funds. Marquee names such as Canada Pension Plan Investment Board (CPPIB), Singapore’s GIC and Qatar Investment Authority (QIA) have taken up spaces in the… Read More »
The year 2015 witnessed decrease in home loan interest rates coupled with various incentives being offered by developers. However, the transaction volumes in residential real estate continued to remain on the lower side across cities. Though select cities witnessed increase in enquires towards the end of the year; in general, the residential buyer was cautious.… Read More »
Net absorption of office space fell by 11 per cent in Delhi-NCR to over 7 lakh sq ft during January-March with corporates focusing on consolidation and relocation, according to a report. The net leasing of office space stood at nearly 7.96 lakh sq ft in the year-ago period. The fall was steeper at 37 per cent compared… Read More »
Equinox Realty , the real estate arm of the diversified Essar Group, plans to repay its entire Rs 1,400 crore debt over the next one year, using proceeds from the sale of two projects, one each in Bengaluru and Mumbai. But the group isn’t exiting real estate business, a top Essar executive told ET, dousing rumours… Read More »
Pune saw a total office space absorption of 5.2 million sq feet in the financial year ended 31st March, 2016, with IT leading the pack with 31%. E-commerce had a much smaller share of six per cent. Probable completions are phases/ buildings of projects like the Cummins building, International Tech Park Pune (ITPP) and World Trade… Read More »
Google has taken 1 lakh square feet office space on lease in Bengaluru’s Bagmane World Technology Centre to expand its business in India as part of chief executive Sundar Pichai’s plans to tap into the local market and engineering talent. The American search engine company struck the deal for the office space recently, three people aware… Read More »
Backed by positive economic sentiment and business confidence, office space absorption during January-March quarter increased by 11 per cent to 8.8 million sqft across nine major cities, a survey said. Office absorption leaped to over 8.8 million sqft, including pre-commitments of 8 lakh sqft, across nine major cities, upping the number by 11 per cent… Read More »
Telangana, on Monday unveiled Information Technology policy with various incentives pertaining to land and power, and reimbursement of stamp duty and registration fee among others and is eyeing $7.5 billion of production of electronics by 2020 from $1 billion now. Aimed at promoting the use of information technology across verticals, India’s newest state also unveiled… Read More »
American PE fund Blackstone is in talks to acquire two commercial office towers in central Delhi from Parsvnath Developers and PE fund Red Fort Capital for Rs 550 crore, said two people with knowledge of the development. The two towers on Bhai Veer Singh Marg, which is near Connaught Place, have around 300,000 sq ft of… Read More »
