Private equity firm Milestone Capital Advisors is looking to raise Rs 1,400 crore through its Milestone Commercial Advantage Fund to invest in pre-leased assets, including commercial offices, IT parks and logistic parks, a top executive at the firm has told ET. The fund raising will have a greenshoe option of Rs 700 crore. This will… Read More »
The race to buy 40 per cent stake in DLF’s rental arm, DLF Cyber City Developers (DCCDL), could turn out be a close fight between Blackstone and GIC – two of the biggest investors in the Indian real estate market. According to sources in the know, the difference in bid amount of Blackstone and GIC is just… Read More »
K Raheja Corp, one of the largest developers of IT parks, is in talks with Singapore-based Temasek Holdings and American private equity firm Warburg Pincus to sell stake in its office space holding company, said a source in the know. The C L Raheja-promoted company wants to sell 20 per cent stake in the office space… Read More »
Large office space developers in India are set to raise more than $3.5 billion by March from institutional investors and pension funds. The fundraising will help the property developers bring new investors on board and expand their project portfolios. Bengaluru-based RMZ Corp., backed by the Qatar Investment Authority (QIA), plans to raise about Rs1,700 crore… Read More »
The $100-billion Delhi Mumbai Industrial Corridor, one of India’s most ambitious infrastructure projects, will kick off land allotments next month and those eyeing plots are said to include big global investors like Ikea, Kia Motors and China Railway Construction Corp. The allocations will mark a significant step forward in a project that was approved by… Read More »
The Reserve Bank is looking for new premises for its office and residential complex in Shimla near the famous Ridge on Mall Road. Currently, the central bank functions from SDA Complex Basement 1, Kasumpti, in Shimla in Himachal Pradesh. RBI has invited expression of interest (EoI) for acquiring land or premises (with or without constructed structure of… Read More »
Only 5% of the 0.3 million square feet of new inventory in mall space is lying vacant in Kolkata. Chief Minister Mamata Banerjee’s calls to set up businesses in the state seem to have started getting responses with commercial space deals clocking a 15-20% rise in number in the last two months. The biggest deal in the… Read More »
IT and ITeS sectors seem to be losing their dominance in office space takeup, with banking, financial services and insurance (BFSI) emerging as a new star. Share of IT/ITeS sector in total office space absorption across major cities reduced to just 24% in the first half of 2016, from 36% in the same period of… Read More »
According to a real estate consultant, first half (H1) of 2016 witnessed the highest annual private equity (PE) investments in retail with over Rs. 3,350 crore being invested, compared to only Rs. 250 million invested in the first half of 2015. This is the highest annual PE investment made since 2008. Owing to factors such… Read More »
The State Bank of India has decided to shift its 60-year-old local head office from Lal Darwaza in Ahmedabad to Gujarat International Finance Tec-City (GIFT) in Gandhinagar. On Monday, the foundation stone of SBI’s new office building was laid by CM Vaijay Rupani in presence of SBI chairperson Arundhati Bhattacharya. As part of its move,… Read More »