Brookfield Asset Management Inc. raised $14 billion for its latest infrastructure fund, topping its target, as Canada’s largest alternative asset manager goes on the prowl for larger acquisitions. The pool, known as Brookfield Infrastructure Fund III, will be the largest private infrastructure fund ever raised in the industry, according to a statement from Brookfield, and data… Read More »
Office space absorption across key cities of India stood at 10.2 million sq ft during April-June quarter, registering around 46% on-quarter growth. The rise in absorption was led by Delhi National Capital Region (NCR) and Bangalore, which accounted for almost 50% of the total space take-up, said a property consultancy in a report. On the… Read More »
Indian Commercial Real Estate has not been ailing in recent times, but it’s been no party either over the past seven to eight years. It’s been through a recovery cycle since the dramatic global collapse of 2008, but fortunately it has gone nowhere close to the dizzying statistics of the pre Lehman era. It’s been… Read More »
Startup firms are giving a boost to the commercial real estate business, which is saddled with huge inventories in major cities. India is the third largest startup destination in the world. Though their demand for space is much less than that of large companies and their ability to pay much less, “these emerging startup business enterprises… Read More »
Taking away a major complaint of the Kejriwal government on non-availability of land for hospitals, night shelters or government offices, the Centre on Monday announced that DDA will provide plots for such facilities at Re 1 per annum. Announcing the lease rates for land for institutional purposes on Monday, urban development minister M Venkaiah Naidu said… Read More »
Gujarat is not only ranked fourth in the country in number of vacant residential premises but is also ranked fifth in number of vacant non-residential units. The union territory of Delhi tops the list of cities with the maximum number of unoccupied commercial units. In Delhi, 16.2% of commercial premises are vacant. The union territory… Read More »
India’s largest real estate developer DLF has shortlisted six potential buyers for 40% stake of the promoters in its rental arm DLF Cyber City Developers Limited that is expected to sell for about Rs 13,000 crore, two people aware of the development said. The company had invited expressions of interest and received 11 offers over the… Read More »
Property developer Century Real Estate has got about Rs 520 crore in a mix of structured debt and construction finance from Piramal Fund Management, the real estate investment arm of Ajay Piramal Group, according to sources familiar with the matter. This is the second fund raise by the company from Piramal, in less than a year.… Read More »
Commercial space rentals are on a gradual rise in Kolkata, thanks to a 20% spurt in transactions in the last two quarters. The average deal size remained low at 7,500 sq ft in the upcoming business locations and industry experts predict a 5-10% surge in rentals in the next six months at prime locations such as… Read More »
Lenders of Kingfisher Airlines have one again put on block Kingfisher House seeking at least Rs 135 crore. Last time, when banks attempted to sell the headquarters of the defunct airlines, at a reserve price of Rs 150 crore, it did not receive a single bid. Kingfisher owes Rs 7000 crore to lenders. Lenders have fixed August… Read More »