At a time when the city is facing a shortfall in its supply of commercial space, BMRCL (Bangalore Metro Rail Corporation Limited) has started advertising for leasing out spaces at the stations. Chief public relation officer BMRCL, UA Vasanth Rao, while speaking to Bangalore Mirror said, ‘This is a futuristic plan that has been envisaged by… Read More »
Lenders of Kingfisher Airlines have one again put on block Kingfisher House seeking at least Rs 135 crore. Last time, when banks attempted to sell the headquarters of the defunct airlines, at a reserve price of Rs 150 crore, it did not receive a single bid. Kingfisher owes Rs 7000 crore to lenders. Lenders have fixed August… Read More »
Real estate in many parts of the country is in bad shape. But there’s one big exception – commercial space in Bengaluru. A surge in demand, including from MNCs looking to establish or expand R&D and engineering centres, has left developers scrambling to supply quality office space in time. Some say rental costs in certain areas… Read More »
Office space absorption contracted 18% to 14.5 million sq ft in India’s top eight markets in the first half of 2016 compared to that a year ago, according to a report, which attributed the decline after six consecutive quarters of expansion to shortage of fresh supply. The report said there was office space shortage in Bengaluru,… Read More »
The multi-product SEZ, financed by Srei and marketed by another Srei initiative Attivo, is ready to house diverse industries, including electronics, general engineering, aerospace, auto and components, solar, renewable energy, food processing, and many more. The SEZ has the potential to generate direct employment in excess of 50,000 over the next decade, the company’s media… Read More »
Enthused by the entry of technology majors such as Google and Apple, the demand for commercial office space in Hyderabad is expected to remain strong and could see upward momentum in 2016-17 boosting the number of leasing transactions, says a property consultant. Hyderabad is expected to see addition of nearly 16 million square feet of new… Read More »
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 »
The MMRDA will allow apartments to come up on plots reserved for commercial establishments in BKC. MMRDA is the special planning authority for BKC, which has emerged as the city’s leading commercial business district over the last decade. The area houses several important government offices and key private financial institutes like ICICI Bank and Crisil. “We have… Read More »
Property developer Embassy Group has emerged as the exclusive co-developer for setting up a 30-acre special economic zone to come up in the city, the company said today. The project, a 30-acre SEZ property, on Thoraipakkam Pallavaram Radial Road in Chennai would be known as “Embassy Splendid TechZone”, it said. The first phase of the project is… Read More »
The plans of the TS government to set up World Trade Centre in Hyderabad along the lines of Mumbai and Bengaluru got a boost on Monday with the Centre giving in-principle approval to fund the project. With this, Hyderabad will join the global network of World Trade Centres, a hub for international businesses. It will be… Read More »