Google has taken 1 lakh square feet office space on lease in Bengaluru’s Bagmane World Technology Centre to expand its business in India as part of chief executive Sundar Pichai’s plans to tap into the local market and engineering talent. The American search engine company struck the deal for the office space recently, three people aware… 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 »
The Trump Organization has signed its first commercial office deal in India with private equity fund and developer IREO in Gurgaon. The American real estate firm founded by Donald Trump, the front runner for the Republican nomination for the President of the United States, will lend its name to a new high-end 600,000-700,000 sq ft… 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 state cabinet on Monday gave its approval to the City Industrial Development Corporation to issue a Request for Proposal (RFP) for the proposed Navi Mumbai International airport. A RFP is a solicitation, often made through a bidding process by an agency or company seeking to procure a commodity, service, to potential suppliers to submit business… 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 »
Mumbai-based private property developer Lodha Group acquired the Canadian embassy building in London’s Mayfair district for $530 million (Rs 3,300 crore then) in its biggest overseas move in November 2013. Abhishek Lodha, managing director, announced plans to become one of the biggest investors in London’s residential property market by spending as much as $5 billion:… Read More »