Demand for prime office space reached a ten quarter high of approximately 11 million sq. ft. for the July – September period, according to a latest India Office MarketView Report – Q3 2016. The quarter recorded a growth of 9% on a q-o-q basis and 14% on a y-o-y basis. As on September 30, 2016,… Read More »
Cerestra Advisors Ltd, a real estate-focused private equity firm, has bought Alexandria Knowledge Park at Genome Valley in Hyderabad for Rs 400 crore as it plans to build an office portfolio focused on R&D clients. Alexandria Knowledge Park, which counts tenants such as Swiss pharmaceutical giant Novartis, was previously owned by New York-based Alexandria Real… Read More »
The country’s first SEBI-registered and Shariah-complaint venture capital fund, Secura Investment Management (India) Pvt. Ltd., launched its third investment management fund, Realty AIF 1 (Alternative Investment Fund). Aiming to raise Rs 200 crore with the Green Shoe Option of Rs 100 crore, the minimum investment under the scheme is Rs 1 crore, which can be… Read More »
Cash-strapped Haryana Urban Development Authority (Huda), which is struggling to meet its daily expenditure, is planning to auction 17 commercial properties in Rewari and Dharuhera on November 1. The auction is expected to raise around Rs 25 crore. Huda had listed several commercial properties in Gurgaon, Rewari and Dharuhera for auction in March, but had failed… Read More »
The city’s office space occupiers will face upward revisions in rents in the coming years, said a report. “Compared to Q2 2015 when Mumbai’s rental values had bottomed out, the city will now start to see acceleration in its rental value growth from Q2 2016,” it said. The research tracks rents (in local currency) for prime Grade-A… Read More »
UK commercial property values slipped in September but at a slower pace than in July and August, a closely-watched index showed, suggesting concerns about the impact of Britain’s vote to leave the European Union are easing. Overall property values for UK commercial assets fell 0.21% in September, following a 0.65% fall in August, and 2.8% fall… Read More »
Shortage in supply of office space has resulted in reduced absorption and higher real estate rentals in Chennai. For the period from January to September this year, deals for nearly 3.3 million square feet have been signed, down from 3.7 million a year ago. Rentals have, however, shot up by nearly 10% year-on-year. Chennai’s real estate… Read More »
Multilateral lender World Bank is expanding its footprint in Chennai and has signed up for additional space of nearly 70,000 sqft. World Bank set up its back office operations in Chennai in 2001 in a small space in Raheja Towers on Anna Salai. It was soon allocated land in Taramani in 2002 and set up a… Read More »
The cost of renting office space in Manhattan set new records in the third quarter amid strong leasing activity that was driven by a job creation rate in New York that exceeds the nationwide average. Leasing activity across Manhattan is 13.8% above the city’s 10-year average, and year-to-date is 11.1% better than 2015, a banner year… Read More »
Thailand’s biggest warehouse developer WHA Corp said on Monday it plans to launch a real estate investment trust (REIT) worth 8.02 billion baht ($230 million) in November with underlying assets in industrial estates of its Hemaraj unit. This will be the first REIT under the Hemaraj brand after WHA, builder of bespoke warehouses for lease, acquired… Read More »