Ecommerce major Snapdeal is rationalizing its offices and is moving into co-working hubs instead of operating from leased offices in an effort to trim costs. The company has vacated its office with 200-seat capacity in Mumbai’s Malad suburb and picked up a 90-seat office in a co-working hub in Andheri, said three persons familiar with… Read More »
Swiss bank UBS has entered into an agreement to pick up 4 lakh sq ft of office space on lease at realty developer K Raheja Corp’s IT Special Economic Zone Gigaplex at Airoli in Navi Mumbai in one of the largest occupier lease transactions, three persons familiar with the development said. The Zurich-headquartered, NYSE-listed multinational… 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 »
Singapore’s DBS Bank Ltd is close to leasing nearly 100,000 sq. ft at Express Towers, a 25-storeyed building in Mumbai’s Nariman Point, in one of the biggest office space deals in the business district since the 2008 global financial crisis that prompted many corporates to leave the locality. The bank is close to signing the lease… Read More »
Mumbai is expected to add around 16 million sq ft of fresh office space by the end of 2017. The current office stock in the city is at 106 million sq ft and is likely to add 8% of this stock, or almost 8.5 million sq ft, through this year. The commercial capital of the… Read More »
We are delighted to announce that Propstack has been chosen to represent Asia Pacific in the MIPIM Proptech summit at New York in Oct 2016. Reed MIDEM and MetaProp NYC have partnered to present the MIPIM PROPTECH SUMMIT, the premier real estate technology event in North America. This summit will convene the leading real estate… Read More »
A consortium of US-based investors that developed First International Finance Center (FIFC), a landmark commercial building in Mumbai’s financial district, Bandra Kurla Complex (BKC), plans to sell its stake in the property for around Rs. 1,500 crore, said two people aware of the development. Around 300,000 sq. ft of the total 657,000 sq. ft office complex… Read More »
A global real estate facility will open its first office in India, a top company executive has said. Brookfield Global Integrated Solutions (GIS) will establish its base in the fourth quarter of this year in Mumbai. “Mumbai will be our Indian headquarter. We will have people on the ground in major cities,” Brookfield GIS executive managing director… Read More »
Real estate firm Raheja Universal Ltd is looking to sell land parcels, totaling over 600 acres located outside the Mumbai Metropolitan Region (MMR), to fund its forthcoming projects as it focuses its business in Mumbai and its suburbs. MMR refers to the region in Maharashtra consisting of Mumbai and its neighbouring towns, including Thane, Navi Mumbai… Read More »
Mumbai office property market witnessed a 21% on-quarter rise in leasing activity at 1.4 million sq ft in the quarter ended June, said a property consultancy in a report. Demand for office space was largely concentrated across peripheral micro-markets. Majority of office space demand in the city was led by corporate occupiers from the BFSI… Read More »