UK commercial property values slipped in September but at a slower pace than in July and August, a closely-watched index showed, suggesting concerns about the impact of Britain’s vote to leave the European Union are easing. Overall property values for UK commercial assets fell 0.21% in September, following a 0.65% fall in August, and 2.8% fall… Read More »
Shortage in supply of office space has resulted in reduced absorption and higher real estate rentals in Chennai. For the period from January to September this year, deals for nearly 3.3 million square feet have been signed, down from 3.7 million a year ago. Rentals have, however, shot up by nearly 10% year-on-year. Chennai’s real estate… Read More »
Multilateral lender World Bank is expanding its footprint in Chennai and has signed up for additional space of nearly 70,000 sqft. World Bank set up its back office operations in Chennai in 2001 in a small space in Raheja Towers on Anna Salai. It was soon allocated land in Taramani in 2002 and set up a… Read More »
The cost of renting office space in Manhattan set new records in the third quarter amid strong leasing activity that was driven by a job creation rate in New York that exceeds the nationwide average. Leasing activity across Manhattan is 13.8% above the city’s 10-year average, and year-to-date is 11.1% better than 2015, a banner year… Read More »
Thailand’s biggest warehouse developer WHA Corp said on Monday it plans to launch a real estate investment trust (REIT) worth 8.02 billion baht ($230 million) in November with underlying assets in industrial estates of its Hemaraj unit. This will be the first REIT under the Hemaraj brand after WHA, builder of bespoke warehouses for lease, acquired… Read More »
U.S. national vacancy rate for the office sector in the third quarter was flat from the second, even as vacancy fell 20 basis points year to date, according to real estate research firm Reis Inc. Asking and effective rents growth for the office sector increased compared with the previous quarter, Reis said in a report. National vacancy… 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 »
Private equity firm Milestone Capital Advisors is looking to raise Rs 1,400 crore through its Milestone Commercial Advantage Fund to invest in pre-leased assets, including commercial offices, IT parks and logistic parks, a top executive at the firm has told ET. The fund raising will have a greenshoe option of Rs 700 crore. This will… 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 »
The race to buy 40 per cent stake in DLF’s rental arm, DLF Cyber City Developers (DCCDL), could turn out be a close fight between Blackstone and GIC – two of the biggest investors in the Indian real estate market. According to sources in the know, the difference in bid amount of Blackstone and GIC is just… Read More »