Blackstone Group has filed a formal bid to buy a minority stake in the commercial unit of K Raheja Corp, one of India’s top three owners of tenanted offices, vying with Singapore’s Temasek Holding and rival private equity investor Warburg Pincus, people directly familiar with the matter said. The three bidders are in the final… Read More »
In the largest deal brewing up in the commercial real estate space in India, Canada Pension Plan Investment Board (CPPIB) is leading the negotiation to acquire private equity firm Everstone Group’s industrial and logistics real estate development platform, IndoSpace, as part of private real estate investment (REIT), said two people familiar with the development.… Read More »
Piramal Fund Management, the financial services arm of Ajay Piramal-led Piramal Group, has deployed Rs 700 crore collectively against two commercial properties, Reliable Tech Park and Empire Towers in suburban Mumbai. The funding suggests a possible revival in demand for real estate despite demonetisation that was seen as a dampener for the sector. The lender would… Read More »
A venture including private-equity giant Blackstone Group LP is poised to launch India’s first real-estate investment trust in an initial public offering that could raise more than $600 million and mark a milestone in the development of a modern commercial real-estate industry in India. For Blackstone, the deal would do a lot more than simply make history. It would… Read More »
HONG KONG-BASED Phoenix Property Investors, a private equity real estate firm with assets managed and under management in Asia of over US$6.7 billion, is looking to increase investments in South-east Asia property markets including Singapore. “The company is expanding its investment footprint from North Asia, particularly Hong Kong, Japan and China, to the South-east Asia… Read More »
Gleeds has won two major contracts in India, with a total build area of ten million square feet. It will be acting as cost manager for the construction of Brigade Brookefields – a commercial project in Bangalore – and the Surat Diamond Bourse scheme in Surat in the Gujarat region. The projects will be managed… Read More »
Private equity firm Milestone Capital Advisors is looking to raise Rs 1,400 crore through its Milestone Commercial Advantage Fund to invest in pre-leased assets, including commercial offices, IT parks and logistic parks, a top executive at the firm has told ET. The fund raising will have a greenshoe option of Rs 700 crore. This will… Read More »
Large office space developers in India are set to raise more than $3.5 billion by March from institutional investors and pension funds. The fundraising will help the property developers bring new investors on board and expand their project portfolios. Bengaluru-based RMZ Corp., backed by the Qatar Investment Authority (QIA), plans to raise about Rs1,700 crore… Read More »
The State Bank of India has decided to shift its 60-year-old local head office from Lal Darwaza in Ahmedabad to Gujarat International Finance Tec-City (GIFT) in Gandhinagar. On Monday, the foundation stone of SBI’s new office building was laid by CM Vaijay Rupani in presence of SBI chairperson Arundhati Bhattacharya. As part of its move,… Read More »
Realty major DLF will invest about Rs 500 crore to develop an IT Park in Chennai as the commercial real estate market has picked up in major cities. The country’s largest realty firm has exhausted its commercial space stock by leasing out over 32 million sq ft. It expects to earn about Rs 2,700 crore rental… Read More »