Private equity giant Blackstone India’s REIT (Real Estate Investment Trust) listing is likely to happen in mid-2017, ahead of which the company may undertake a corporate restructuring, demarcating its office spaces from the retail assets, geography-wise. Blackstone is planning to list two separate REITs for its office assets: one with Pune-based Panchshil Realty, and the… Read More »
When Goldman Sachs opened its wholly owned Bangalore operation in 2004, it was a typical back office. Just under 300 full-time staff supported a front line of revenue-generating bankers worldwide. They worked in limited areas such as information technology, finance and accounting. The group put no cap on Bangalore’s ambitions, says Bunty Bohra, who heads… Read More »
The gross office space take-up in India amounted to 9.3 million sq ft in the first quarter ended in March, up 8% from a year ago. The market also recorded about 2.5 million sq ft of pre-commitments signifying healthy demand, showed a Colliers Research report. Five months on from demonetisation, occupiers’ markets across India’s major… Read More »
10000+sf deals contributed to nearly 90% of the total leasing activity witnessed in Bangalore in 2016. Last quarter of the year contributed maximum volume of area leased- 35% for these large deals. Information Technology (IT) and BFSI sectors contibuted nearly 70% of the total 10,000 + sf deals volume for Bangalore last year. *Grade A data… Read More »
Falling footfalls in Bhandup’s Magnet Mall, one of Mumbai’s biggest, has forced its developer to shut down and revamp the 10 lakh sq ft premises into an office-cum-retail complex. Over the past few years, several malls across the country, including Mumbai, have been converted into commercial or residential complexes because of poor business. But market… Read More »
India’s digital payment giant Paytm opened its third office in Bengaluru renting a 150-seat space in a flexible office in Bengaluru as it seeks to expand up presence in the startup capital of India. Paytm is on a head count expansion spree to bring on board 2,000 executives in South India alone to widen its… Read More »
Large companies are seeing sense in employees working out of a co-working space near their homes, as urban commutes are getting longer. Co-working spaces like CoWrks, InstaOffice, 91springboard, Awfis finds that up to 40-50% of their space is now occupied by SMEs and corporates and not just startups. “When you enter a corporate office, you… Read More »
Mumbai accounted for 18 per cent of office space absorption — the second highest in the country— in the first quarter of 2017, said a report from real estate consultancy CBRE. While this was on a par with Bengaluru, the National Capital Region (NCR) ranked first, accounting for 19 per cent of all transactions. According… Read More »
The pan-India office space vacancy in 2016 at 15 per cent was the lowest in eight years. The sharpest decline in pan-India office vacancy was seen between 2013 and 2016 when it went down from 18.5 per cent to 15 per cent. “On the back of positive office space demand from sectors such as manufacturing,… Read More »
Canada Pension Plan Investment Board and mall developer The Phoenix Mills have entered into a pact to set up a strategic investment platform for retail real estate properties in India. This is CPPIB’s maiden retail real estate venture in India. CPPIB will initially own 30% of the platform with an equity commitment of around Rs… Read More »