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 »
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 »
Indian banks have been implementing technology-intensive solutions over the past few years which has helped them grow their profits, reach out to potential customers, improve cost structures and manage risks. Propstack, an Indian Commercial Real Estate (CRE) technology startup is one of the sponsors of the 8th Banking & Finance Conference on Changing Contours of Banking & India’s Growth Aspirations… Read More »
Backed by positive economic sentiment and business confidence, office space absorption during January-March quarter increased by 11 per cent to 8.8 million sqft across nine major cities, a survey said. Office absorption leaped to over 8.8 million sqft, including pre-commitments of 8 lakh sqft, across nine major cities, upping the number by 11 per cent… Read More »
The decision of DLF’s promoters to sell their 40% stake in the rental arm business, DLF Cyber City Development (DCCDL), has potential to unlock value for the listed company DLF. But given the past track record, when the sale of the company’s some of the other assets dragged beyond expected time, a critical task will… Read More »
Blackstone Group has appointed Christopher Heady, its head of Asia real estate business, as chairman of its Asia-Pacific businesses, according to a report by Bloomberg. Heady joined Blackstone in 2000 and has led about $3 billion of investments made by the firm in China, India, Japan and Australia. Read more: Economics Times
Infrastructure giant Larsen & Toubro (L&T) today said it has sold its entire 89 per cent stake in L&T Infocity Ltd (LTIL) to Hyderabad-based Ace Urban Developers Ltd for Rs 191 crore. L&T Infocity Ltd is an special purpose vehicle (SPV) formed by the infrastructure major in partnership with Andhra Pradesh Infrastructure Investment Corporation (APIIC)… Read More »
Commercial space deals are finally taking off in Kolkata, according to a report. The last six months of the current fiscal have seen the maximum number of deals closing in the city with corporates expanding their office in Kolkata or shifting to a grade A property from their present premises. Major new entrants in the last… Read More »