Indian cities of Bengaluru, Chennai, Hyderabad and Pune are likely to outstrip other cities in the Asia-Pacific region (APAC) in investments in office assets, predicts global property consultant Cushman & Wakefield. The agency said, while the real estate investment volumes in Asia Pacific are expected to hit $611 billion in 2017, India is projected to… Read More »
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 »
In one of the largest office leasing transactions so far this year, IDFC Bank has picked up an entire office building spread over 1.80 lakh sq ft on lease in K Raheja Corp’s mixed-use development Mindspace in Navi Mumbai’s Juinagar locality, said two persons familiar with the development. The lease is for five years with… 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 »
Mumbai-based collaborative co-working space rental company, Awfis Space Solutions has raised $20 million (about `128 crore) from Sequoia India and plans to use the funds to expand its network of centres, launch new products and services, and enhance its technology platform. With this infusion, as part of a Series-B round, the total capital raised by… Read More »
Samara Capital, a mid-market India-focused private equity fund, has bought out 100% of Sanjay Maintenance Services Pvt. Ltd. (SMS), one of the largest facilities management for an undisclosed amount. Sources said Samara had invested about Rs 140 crore ($20 million) for the acquisition and plans to spend an additional $30 million behind bolt-in buyouts for… 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 »
Warehousing giant Embassy Industrial Parks on Thursday announced the construction of a grade ‘A’ quality industrial and warehousing facility in its newly acquired property in Gurugram, Haryana. The 24 acres of land purchased by Embassy Industrial Parks is strategically located on NH-8 near Bilaspur Chowk. It is a major development after a 1,910 crore worth… Read More »