Honda Motor spent an estimated 1,000 crore to acquire 380 acres in Gujarat to set up a manufacturing unit, as the Japanese automaker bets on the long-term potential of the Indian market despite its factories now producing fewer cars than what they are designed for. The new site is at Vithalapur, about 80 km north-west… Read More »
Ultra-luxury retail business in new-age India will be founded on old money. North America’s oldest commercial firm is partnering Aditya Birla Group, whose origins date back to 1857, to start Saks Fifth Avenue outlets in a country that once boasted of the poshest store east of the Suez. Hudson’s Bay Co.-owned Saks, which competes with… Read More »
India’s largest realty firm DLF Ltd will invest about Rs 3,500 crore this year to complete construction of almost all of its existing housing projects, a senior company official said. DLF has 18.5 million square feet area under construction in various housing projects, and it is targeting to complete about 15-16 million sq ft by… Read More »
Osmansagar and Himayatsagar, the two lakes that have quenched the city’s thirst for decades, are set to lose their status as drinking water reservoirs for Hyderabad. The move to de-notify the two lakes as the city’s drinking water sources, it is reliably learnt, is to facilitate scrapping provisions of government order (GO) 111 that prevents… Read More »
Private equity investments in the real estate sector increased by 26 percent during 2016 and touched a nine-year high of nearly Rs 40,000 crore, according to property consultant Cushman & Wakefield. Mumbai saw the highest share of inflow at 32 percent of the total private equity investments in real estate (PERE). “PERE inflows in 2016… Read More »
In one of the largest real estate transactions in Bengaluru, SAP Labs India is in the process of renting a 5,00,000 sq ft of office space in the city to consolidate and expand its business in India. “SAP Labs is looking for various growth corridors in Bengaluru. They are yet to take a decision on… Read More »
Retail space absorption in Hyderabad has picked up pace after remaining subdued for years due to regional agitations and political uncertainty. According to property consultants, more than half a dozen large retailers, including global brands H&M, Forever21 and GAP, and domestic players Reliance, Shoppers Stop and Central, recently agreed to absorb nearly 2.6 million square… Read More »
Piramal Fund Management (PFM), financial services arm of Piramal Enterprises, has sanctioned investments worth about Rs 2,000 crore within three months of launching lease rental discounting (LRD) for completed commercial assets that include office and retail space, it said on Wednesday. Of this, it recently approved two investments under LRD against assets in Mumbai and… Read More »
The promoters of DLF are in advanced discussions with shortlisted investors to sell their 40% stake in the realty developer’s rental arm, DLF Cyber City Developers (DCCDL), its management said. The final bids will be presented to a committee of independent directors for the evaluation and making the final decision, they told analysts on an… Read More »
If everything goes well, IT major Infosys will launch its operations for the entire northern region from Noida, two years from now. A team of officials from Infosys met Deepak Agarwal, CEO, Noida Authority, on Tuesday and submitted a revised layout plan for its Noida campus — the largest in north India. Later, speaking to… Read More »