In one of the largest real estate transactions of this year, RMZ will acquire the remaining 50 per cent stake in Essar Group’s commercial project Equinox Business Park in Bandra-Kurka Complex, Mumbai, by the end of this year. The company will pay Rs 2,400 crore for the complete buyout, which will be funded by Qatar… Read More »
Office space absorption dropped in Bengaluru in the October-December quarter, compared to the same period last year, partly due to limited availability of Grade A office space in the city. Gross absorption fell to 4.6 million sqft in the quarter, from 5.3 million sqft a year earlier, according to data from an independent property consultancy.… Read More »
If demonetisation severely impacted the residential real estate segment in 2016 with sales dropping by 9% from 2015, the commercial real estate segment, backed by demand for office space, saw sales climbing 9% in 2016 over the previous year, according to real estate consulting firm. In a report, the property consultant said the year witnessed… Read More »
In one of the largest real estate transaction of this year, RMZ Corp will acquire 100% stake in Essar Group commercial project Equinox Business Park in Mumbai’s Bandra-Kurla Complex for about Rs 2,400 crore. “RMZ already hold 50% stake in the project the remaining stake buyout will happen by the end of this year. The… Read More »
Bringing another feather in the cap of IT and start-up hub Bengaluru, it has been rated as the world’s most dynamic city in the annual report. By doing so, it outranked US cities such as Silicon City (3), Austin (7) and Boston (9). Apart from Bengaluru, Hyderabad (5), Pune (13), Chennai (17), Mumbai (25) and… Read More »
A property consultant expects the demand for office space to stay strong in 2017 on the back of low supply and lack of availability of Grade A office spaces. It also expects more companies using co-working spaces to adopt a flexible working strategy. According to the agency, while supply in 2017 is expected to remain… Read More »
The e-commerce boom seems to be over as far as real estate space absorption is concerned in Bengaluru. Although Bengaluru witnessed a strong growth in office market transactions in 2016 with the absorption of 11.4 million sq ft, the share of e-commerce in the total office space declined drastically. The share of e-commerce was just… Read More »
Gurgaon remained the preferred choice for opening offices in the National Capital Region (NCR) among companies, grabbing 51% share or 3.88 million square feet of the total office space leased in the region in 2016, according to a property consultancy. Noida and Delhi accounted for about 36% and 13% share, respectively, out of the total… Read More »
Globally, real estate is recognized as a sector which has the most economic linkages. In India, realty is the second largest employer after agriculture and is slated to grow at 30% over the next decade as the number of Indians living in urban areas is set to increase from 434 million in 2015 to 600… Read More »
Property market, long considered a black money safe haven, seems to have taken a big hit from demonetisation, with developers seeing their sales drop by about 50 per cent in the last three months and now pinning their hopes on buyers coming to market with ‘white money’. The genuine buyers in the residential market, on… Read More »