An Australia-based construction giant has cracked a deal worth $169.5 million with an Indian company to build a retail and hospitality development project in Mumbai. CIMIC Group Company Leighton Asia, through its subsidiary Leighton India Contractors, has entered into an alliance agreement to deliver phases two and three of the Maker Maxity project in Mumbai. According to… Read More »
Realty developer K Raheja Corp has started the process to sell around 20% stake in its commercial or income-producing office portfolio spanning 20 million sq ft, said two persons familiar with the development. The company is looking to fetch Rs 2,700 crore to Rs 3,000 crore through this stake sale. “While the intention to list… Read More »
BlackRock Inc has agreed to sell a 43-storey office building in Singapore to Qatar Investment Authority, a sovereign wealth fund, for S$3.4 billion ($2.5 billion), in what the U.S. firm said was the largest-ever single-tower real estate deal in the Asia-Pacific region. Asia Square Tower 1, located in the city-state’s financial district, has over 1.25 million… Read More »
In India’s largest deal so far in the commercial property space, Canada-based Brookfield Asset Management is set to acquire Hiranandani Group’s offices and retail space in Powai, Mumbai, for around $1billion, or about Rs 6,700 crore, two people familiar with the development said. Hiranandani Group, a partnership between Hiranandani brothers Niranjan and Surendra, owns 4.5… Read More »
Godrej Properties is aiming to launch 15 new projects, including one in Noida, and sell its completed commercial assets worth Rs 1,500 crore during this fiscal as the realty firm seeks to achieve higher growth. Godrej Properties achieved a record sales bookings of Rs 5,038 crore in 2015-16 fiscal, up 88 per cent from previous year,… Read More »
Having failed once to sell the Kingfisher House for recovering their loans, banks have begun a fresh valuation process for auctioning the headquarters of the Vijay Mallya’s long defunct Kingfisher Airlines. “A revaluation process has begun and will be over by the next week. The property will put on the block again at the earliest,” a… Read More »
Realty firms K Raheja Corp and Gera Developments have partnered to construct an IT-SEZ in Pune at an investment of about Rs 1,000 crore over the next four years. Property consultant JLL India has facilitated the deal between the Mumbai-based K Raheja Corp and Pune’s Gera Developments for the development and operation of the prime 30-acre… Read More »
Equinox Realty , the real estate arm of the diversified Essar Group, plans to repay its entire Rs 1,400 crore debt over the next one year, using proceeds from the sale of two projects, one each in Bengaluru and Mumbai. But the group isn’t exiting real estate business, a top Essar executive told ET, dousing rumours… 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 »
Infrastructure giant Larsen & Toubro (L&T) today said it has sold its entire 89 per cent stake in L&T Infocity Ltd (LTIL) to Hyderabad-based Ace Urban Developers Ltd for Rs 191 crore. L&T Infocity Ltd is an special purpose vehicle (SPV) formed by the infrastructure major in partnership with Andhra Pradesh Infrastructure Investment Corporation (APIIC)… Read More »