Total volume of Lease expiries in Bangalore is expected to cross 9 msf in 2017. Witnessing quarterly increase since beginning of year, total area of lease expiries in Q4 2017 is expected to be above 3 msf. The 200+ leases expiring in 2017 have average monthly rent of INR 57/sf/month and add upto nearly 56 crores… Read More »
Total no. of transactions decreased Y-o-Y in 2016. However, no. of 10,000+ sf transactions increased. This led to in 24% increase in total absorption Y-o-Y; majorly contributed by 10,000 + sf deals in 2016. *Grade A data only
The Indian arm of US-based Cognizant Technology Solutions has renewed the lease on its office space in the Blackstone Group-owned IT park in Pune, said two people familiar with the development. The deal is the first major office space transaction this year. Following the renewal of the lease of 2.6 lakh square feet of office… Read More »
Strengthening business confidences resulted in net absorption of office space across the top eight cities to 34 million square feet (msf) during 2016, according to an international property consultant Cushman & Wakefield. Of the total uptake of office space, nearly 40% of the total net absorption took place in the last quarter of 2016. Bengaluru… Read More »
After renting out most of the space in its erstwhile iconic tower Air India Building here, the national carrier has now started the process to lease out around 25,500 square feet space at the Kolkata office complex.The airline, which turned operationally profitable for the first time in a decade in 2015-16 fiscal, is pursuing ways… Read More »
Abbott, one of the largest healthcare product companies in India, has picked up an entire under-construction building with over 1.60 lakh sq ft built-up area in the Andheri suburb of Mumbai to set up an innovation & development centre, said two persons familiar with the development. The deal assumes significance as the lease will run… Read More »
Point72 Asset Management moved into a new office space in Singapore’s OUE Bayfront in Marina Bay on Monday. The 8,880 square foot space can seat up to 60 employees, doubling the capacity of the Firm’s previous Singapore office. Marc Desmidt, Chief Executive Officer of Point72’s international business, said, “We are making a push to find,… Read More »
Swiss bank UBS has entered into an agreement to pick up 4 lakh sq ft of office space on lease at realty developer K Raheja Corp’s IT Special Economic Zone Gigaplex at Airoli in Navi Mumbai in one of the largest occupier lease transactions, three persons familiar with the development said. The Zurich-headquartered, NYSE-listed multinational… Read More »
Consultancy and management services provider Accenture has leased around 280,000 sq ft office space on a long-term lease at Bagmane World Technology Center IT SEZ in Bengaluru, said two persons familiar with the development. The lease, which was formalised early this year, has a monthly rental of Rs 59 per sq ft, that translates into an… Read More »
Coworking space provider Instaoffice plans to lease around 1 lakh sq ft of office space by March next year and expand operations to Bangalore and the National Capital Region. “We are focusing on demand based expansion and aim to set up 1,500-2,000 desks, leasing around 100,000 sq ft by the end of this financial year,”… Read More »
