Deutsche Bank analysts say the strongest growth in commercial construction is likely behind us. In a note Wednesday, Nishu Sood and team observe that various measures of on-the-ground spending are near or above 90% of the levels where they last peaked between 2002 and 2008. They point to the slowdown in the Dodge Momentum Index, which… Read More »
Equinox Realty , the real estate arm of the diversified Essar Group, plans to repay its entire Rs 1,400 crore debt over the next one year, using proceeds from the sale of two projects, one each in Bengaluru and Mumbai. But the group isn’t exiting real estate business, a top Essar executive told ET, dousing rumours… Read More »
Blackstone, with over $330 billion assets under management (AUM), has of late started lapping up retail assets in India. In December, it acquired two retail assets of Alpha One Malls in Ahmedabad and Amritsar. With this, it has invested about Rs 800 crore in about 1.2 million square feet. Now, Blackstone is close to announcing… Read More »
Office demand in the first quarter of 2016 increased by 19% to 11.7 msf (million square feet) across the top eight cities backed by high pre-commitments, as compared to the corresponding quarter last year, according to a property consultant. While the sluggish net absorption levels is marked by characteristic slow Q1 fraught by delayed decision making… Read More »
Pune saw a total office space absorption of 5.2 million sq feet in the financial year ended 31st March, 2016, with IT leading the pack with 31%. E-commerce had a much smaller share of six per cent. Probable completions are phases/ buildings of projects like the Cummins building, International Tech Park Pune (ITPP) and World Trade… Read More »
Google has taken 1 lakh square feet office space on lease in Bengaluru’s Bagmane World Technology Centre to expand its business in India as part of chief executive Sundar Pichai’s plans to tap into the local market and engineering talent. The American search engine company struck the deal for the office space recently, three people aware… Read More »
The absorption of commercial real estate including outright purchases and leasing of office space in India’s top seven markets increased to 5.8 million square feet during the first quarter of 2016, up 8% from that a year ago, according to commercial data information and analytics firm Propstack. This signals continuation of the strong revival seen… Read More »
With only 170,000 sq ft of Grade A office space absorbed, according to a report, in Q1 2016. Kolkata office absorption remained weak due to gloomy response from the occupiers. The total office space absorbtion in this period stood 32 per cent less as compared to the previous quarter’s absorption of 250,000 sq ft. IT-ITeS… Read More »
Non-banking financial company (NBFC) Altico Capital is looking to deploy $150 million (Rs 990 crore) over 12-18 months in commercial office properties and the infrastructure sector. This is besides the $400 million it is looking to deploy in mid-income and affordable housing segments, said Sanjay Grewal, chief executive officer at Altico Capital. The NBFC is promoted… Read More »
The Trump Organization has signed its first commercial office deal in India with private equity fund and developer IREO in Gurgaon. The American real estate firm founded by Donald Trump, the front runner for the Republican nomination for the President of the United States, will lend its name to a new high-end 600,000-700,000 sq ft… Read More »