As much as 229 million sq ft of office space in India is compliant with REIT (Real Estate Investment Trusts). Even if half of this space were to get listed in the next few years, the total REIT listing could be worth Rs 1.25 trillion. The first REIT listing is expected by June 2017. Well-known… Read More »
Office space absorption dropped in Bengaluru in the October-December quarter, compared to the same period last year, partly due to limited availability of Grade A office space in the city. Gross absorption fell to 4.6 million sqft in the quarter, from 5.3 million sqft a year earlier, according to data from an independent property consultancy.… Read More »
The e-commerce boom seems to be over as far as real estate space absorption is concerned in Bengaluru. Although Bengaluru witnessed a strong growth in office market transactions in 2016 with the absorption of 11.4 million sq ft, the share of e-commerce in the total office space declined drastically. The share of e-commerce was just… Read More »
Gurgaon remained the preferred choice for opening offices in the National Capital Region (NCR) among companies, grabbing 51% share or 3.88 million square feet of the total office space leased in the region in 2016, according to a property consultancy. Noida and Delhi accounted for about 36% and 13% share, respectively, out of the total… Read More »
Globally, real estate is recognized as a sector which has the most economic linkages. In India, realty is the second largest employer after agriculture and is slated to grow at 30% over the next decade as the number of Indians living in urban areas is set to increase from 434 million in 2015 to 600… Read More »
It may still be trying to catch up with the market leader on sales, but Amazon India has surely outperformed Flipkart on one front: occupying office space. The local unit of the American e-commerce giant occupies 3.1 million sq ft of office space in India, more than four times compared with the 7 lakh sq ft… Read More »
Chennai is witnessing shortage of quality office space. Notwithstanding this, office space absorption levels in the city rose to 5.25 million sft in 2016, from 5 million sft in 2015. Engineering and technology giant GE is setting up shop in Chennai. The Fairfield-Connecticut headquartered company will set up a back office and processing centre across 1.7… Read More »
Barclays said on Tuesday it has agreed to lease office space in London’s Canary Wharf district to the British government in an effort to save about 35 million pounds ($45 million) annually. The Cabinet Office will lease about 540,000 square feet of space in 10 South Colonnade, according to a statement. The handover is expected to… Read More »
Automotive testing systems major HORIBA, inaugurated today its India Technical Centre at Chakan MIDC Phase 2 near Pune in Western India. Maharashtra Chief Minister Devendra Fadnavis inaugurated the 7000 sq mtrs facility which will be a comprehensive location for product demonstration and testing; a workshop for product customization and assembly; an office space and a training… Read More »
In an indication of the city’s growing clout as a major IT hotspot in the country, Hyderabad has seen a record absorption of 6 million square foot of office space by the IT industry alone in 2016, Telangana IT secretary Jayesh Ranjan said here on Wednesday. “In terms of growth there is one indicator that… Read More »
