Singapore’s DBS Bank Ltd is close to leasing nearly 100,000 sq. ft at Express Towers, a 25-storeyed building in Mumbai’s Nariman Point, in one of the biggest office space deals in the business district since the 2008 global financial crisis that prompted many corporates to leave the locality. The bank is close to signing the lease… Read More »
K Raheja Corp, one of the largest developers of IT parks, is in talks with Singapore-based Temasek Holdings and American private equity firm Warburg Pincus to sell stake in its office space holding company, said a source in the know. The C L Raheja-promoted company wants to sell 20 per cent stake in the office space… Read More »
Large office space developers in India are set to raise more than $3.5 billion by March from institutional investors and pension funds. The fundraising will help the property developers bring new investors on board and expand their project portfolios. Bengaluru-based RMZ Corp., backed by the Qatar Investment Authority (QIA), plans to raise about Rs1,700 crore… Read More »
Mumbai is expected to add around 16 million sq ft of fresh office space by the end of 2017. The current office stock in the city is at 106 million sq ft and is likely to add 8% of this stock, or almost 8.5 million sq ft, through this year. The commercial capital of the… Read More »
The $100-billion Delhi Mumbai Industrial Corridor, one of India’s most ambitious infrastructure projects, will kick off land allotments next month and those eyeing plots are said to include big global investors like Ikea, Kia Motors and China Railway Construction Corp. The allocations will mark a significant step forward in a project that was approved by… Read More »
The Reserve Bank is looking for new premises for its office and residential complex in Shimla near the famous Ridge on Mall Road. Currently, the central bank functions from SDA Complex Basement 1, Kasumpti, in Shimla in Himachal Pradesh. RBI has invited expression of interest (EoI) for acquiring land or premises (with or without constructed structure of… Read More »
Only 5% of the 0.3 million square feet of new inventory in mall space is lying vacant in Kolkata. Chief Minister Mamata Banerjee’s calls to set up businesses in the state seem to have started getting responses with commercial space deals clocking a 15-20% rise in number in the last two months. The biggest deal in the… Read More »
We are delighted to announce that Propstack has been chosen to represent Asia Pacific in the MIPIM Proptech summit at New York in Oct 2016. Reed MIDEM and MetaProp NYC have partnered to present the MIPIM PROPTECH SUMMIT, the premier real estate technology event in North America. This summit will convene the leading real estate… Read More »
Software services exporter Tata Consultancy Services (TCS) is close to leasing 780,000 sq ft of office space in IG3 Infra’s Chennai One IT SEZ for 10 years, said two people in the know of the development. TCS will pay a rental of Rs 50 per sq ft per month, taking the total annual payout to… Read More »
IT and ITeS sectors seem to be losing their dominance in office space takeup, with banking, financial services and insurance (BFSI) emerging as a new star. Share of IT/ITeS sector in total office space absorption across major cities reduced to just 24% in the first half of 2016, from 36% in the same period of… Read More »