While there was no addition of fresh supply in the office space market in Kolkata, the first quarter of the new calendar year took off on a positive note in the city with absorptions higher than that in same period last year. With 0.2 million sq ft of office space absorption between January and March,… Read More »
Apple has taken up additional space in Gurgaon, a few floors above its existing office which CEO Tim Cook visited last year, during his maiden trip to India. According to people aware of the development, Apple has taken space to seat a number of new executives that it plans to hire over the next few… Read More »
Beleaguered online marketplace Snapdeal is in the process of vacating over 60% of its office space in Gurgaon as it moves into a single tower in line with its shrinking operations. The development comes at a time when the e-commerce company is on the path to a… Read More »
Swiss bank UBS has set up its office on part of recently leased 4 lakh sq ft space in K Raheja Corp’s Mindspace complex in Navi Mumbai’s Airoli locality. The new office of the Zurich-headquartered, NYSE-listed multinational bank will provide IT infrastructure support to UBS’ international operations and also house its global service center hub.… Read More »
The leasing of office space fell 27 per cent in eight major cities to 5.5 million sq ft during January-March quarter due to lack of supply, according to property consultant Cushman & Wakefield. The net absorption of office space stood at 7.4 million sq ft in the year-ago period. Supply of office space has been… Read More »
Hyderabad witnessed strong office leasing during 2016, registering a 109 per cent year-on-year growth during the year, according to real estate consultancy CBRE South Asia. During the January to March 2017 quarter, the city witnessed the uptake of more than 1.3 mllion sq ft. Affordability This growth in office leasing activity, coupled with robust infrastructure… Read More »
When Goldman Sachs opened its wholly owned Bangalore operation in 2004, it was a typical back office. Just under 300 full-time staff supported a front line of revenue-generating bankers worldwide. They worked in limited areas such as information technology, finance and accounting. The group put no cap on Bangalore’s ambitions, says Bunty Bohra, who heads… Read More »
The gross office space take-up in India amounted to 9.3 million sq ft in the first quarter ended in March, up 8% from a year ago. The market also recorded about 2.5 million sq ft of pre-commitments signifying healthy demand, showed a Colliers Research report. Five months on from demonetisation, occupiers’ markets across India’s major… Read More »
Occupants from information technology sector dominated the office space leasing in 2016 across the country with over 51% of total deals concluded by them, said commercial realty data information and analytic firm Propstack. These deals for grade A office spaces also include transactions of IT-enabled services companies too. “IT companies continued to drive home the… Read More »
Falling footfalls in Bhandup’s Magnet Mall, one of Mumbai’s biggest, has forced its developer to shut down and revamp the 10 lakh sq ft premises into an office-cum-retail complex. Over the past few years, several malls across the country, including Mumbai, have been converted into commercial or residential complexes because of poor business. But market… Read More »
