Mumbai office sale registrations contracted on a quarterly basis since the beginning of 2016 to the lowest in the last quarter. The registrations dipped to nearly 1/3rd of the Q1 levels in Q4 – the quarter of demonetization. Both no. of registrations and transaction volume dipped by 55-60% in Year-on-Year (Y-o-Y) comparisons for Q4 ’16. Even… Read More »
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 »
Realty firm Godrej Properties Ltd expects to monetise commercial properties worth about Rs 1,500 crore at Mumbai, Kolkata and Chandigarh over the next six months and reduce net debt, which now stands at Rs 3,278 crore. In September 2015, Godrej Properties had sold 4.35 lakh sq ft of office space at Bandra-Kurla Complex (BKC) in Mumbai… Read More »
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 »
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 »
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 »
Cash strapped brothers Malvinder and Shivinder Singh are in active discussions with private equity group TPG Capital to sell a significant minority stake in Fortis Healthcare. The transaction may also see the folding back of the Singapore listed business trust into the listed Indian entity, said four sources aware of the transaction. The quantum of… 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 »