Category Archives: International

Shared office space company WeWork starts facilities management service

Shared office space company WeWork Cos is starting to expand with a broader real estate facilities management service, it said on Wednesday. WeWork is building on what it calls “on-site services” that began with an unnamed corporate client in Chicago that is reducing its leased space to two floors from three, said David Fano, the… Read More »

Colombo most suited to be South Asia’s commercial hub: Port City Project official

Sri Lankan capital Colombo is the most suitable to be South Asia’s commercial hub, says Liang Thow Ming, Chief Marketing Officer of the US$ 1.4 billion Colombo Port City project being executed by the China Harbor Engineering Company (CHEC) . Liang told this correspondent that Colombo is not only South Asia’s cleanest and the most… Read More »

Propstack Insights: Mumbai 2016 Deal Size Break-up

10000+ sf deals constituted 1/3rd of the total lease deals in Mumbai in 2016. Smallest deal size of up to 2,500 sf contributed to 26% of the deals last year. Largest deals of above 50,000 sf had the lowest average rental value of INR 102/sf/month, while 5,000 sf to 10,000 sf deals had highest average rental value… Read More »

SoftBank invests $300 million in shared-office startup WeWork

SoftBank Group Corp has invested $300 million in shared-office space company WeWork, the first installment of a multi-billion-dollar bet, according to a source familiar with the matter. SoftBank, the Japanese telecommunications and internet company, has made bold and wide-ranging bets in the technology industry, including India ride-service company Ola, San Francisco-based financial services startup SoFi… Read More »

Dubai builder Emaar appoints new chief executive

Dubai-based developer Emaar Properties PJSC said on Sunday that it has hired a new chief executive to head development.”John Carfi has joined Emaar Properties as ‎CEO of Development,” a company spokesperson told Zawya Projects in an email. Carfi joins Emaar from Australian property group Mirvac, where he was head of residential. Mirvac said in a… Read More »

Potential SoftBank-WeWork deal highlights flexible office trend

Burgeoning interest and investment in flexible workspaces is pushing a small corner of the commercial real estate market into the corporate mainstream, and drawing one top executive from Asia to help expand his company’s U.S. operations. Media reports say Japan’s SoftBank Group Corp, with expertise in information technology and telecommunications, is close to investing more… Read More »

Apple’s new headquarter to reportedly cost $5 billion

Inside the original Macintosh computer, Apple co-founder Steve Jobs inscribed the signatures of his team, revealing his deep concern for even the hidden features of his products. His last work – Apple Inc’s sprawling new headquarters in Cupertino, California – will be a fitting tribute: a futuristic campus built with astonishing attention to detail. From… Read More »

Indian cities top real estate prospects in 2017

This year’s Investment Prospects survey from Urban Land Institute (ULI) and PwC shows a strong shift away from last year’s favorites, which featured core markets in Japan and Australia, in favor of emerging-market destinations. The survey also found steep declines in the popularity of gateway cities with the exception of Shanghai which has seen a… Read More »

Tech, pharma firms among main drivers of Asia-Pacific office demand

There is strong demand in the Australian cities of Melbourne and Sydney, as well as in Bangalore in India and Bangkok, especially in their central business districts (CBDs). Other cities such as Ho Chi Minh City, Manila and Hong Kong continue to hold steady in terms of rental outlook, the survey found. Among the top sectors fuelling… Read More »