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Developers, funds target China demand for co-working space amid startup boom

Real estate developers and financial investors are capitalising on fast-rising demand for leasing of “co-working” spaces in China, as Beijing encourages startups and small businesses in a bid to offset slowing growth at traditional industries. Developers, including China Vanke, Soho China and Singapore’s CapitaLand, are renting out property space that hordes of self-employed persons or small-sized companies… Read More »

75% Indian companies not disaster ready

Nearly 75 per cent of Indian companies are not prepared for disaster management, a recent survey by real estate consultant CBRE says. According to the study, which includes over 100 top corporates in the country and over 350 respondents found out that 75 per cent of the Indian firms are not disaster ready. It said that 96… Read More »

Abbott inks 15-year lease deal in Mumbai to set up its R&D centre

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 »

Coworking spaces keep startups in Tier-II cities in the loop

A growing number of coworking spaces in tier-II cities like Indore, Ahmedabad, Rajkot, Udaipur, Jaipur, Kota, Surat, Pune and other cities has boosted the startup ecosystem. Startups who seek an ecosystem are able to create cocoon communities within this coworking spaces. “Mushrooming of coworking spaces in smaller cities is due to the rise of startup aspiration… Read More »

DLF may split 40% stake sale in rental arm between GIC & Blackstone

Promoters of DLF, India’s largest realty developer, are actively considering a split of the proposed 40% stake sale in the company’s rental commercial property arm between two contenders — US private equity major Blackstone Group and Singapore’s sovereign wealth fund GIC — said three persons familiar with the development. Under this structure, Blackstone and GIC… Read More »

Office real estate in demand, but home sales fall in 2016

India’s office real estate market stayed positive while residential sales across the country fell sharply since early this year. Higher corporate demand and reduced Grade-A supplies have pushed upwards the rental of commercial properties across the country. “Of the 36 commercial micro markets in the country, 10 have seen rise in rent by over 25% in… Read More »

Mumbai’s Bandra-Kurla Complex office rentals market going strong despite demonetisation

Demonetisation has not slowed down the commercial property market, at least in Bandra-Kurla Complex (BKC). Consider this fact: In the past one month, several office lease transactions have been concluded in the business district. Most of these deals have taken place in Maker Maxity, the 18-acre office complex which is a joint venture between Mukesh… Read More »

Piramal Fund Management invests Rs 700 crore in two Mumbai commercial projects

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 »

Coworking space firm InstaOffice forays into Bengaluru; to open 2 offices

Coworking space provider Instaoffice has forayed into the Bengaluru market by announcing their plans to launch two offices in Indiranagar. With one office at 100 Feet Road, the other at Double Road in Indiranagar, the company will offer over 150 seats in total to the city known for its startup culture. “Indiranagar is an ideal location for… Read More »

India net office absorption to surge 9% to 32.4 million in 2017

Growth momentum in office absorption, witnessed over the last two years, is expected to continue in 2017 too. India’s top 8 property markets are likely to witness 10% surge in office space net absorption in 2017 to 32.5 million sq ft, the highest level seen over the last six years, said a report. Strengthening business… Read More »