Bengaluru based RMZ Corp, one of the leading commercial real estate developers in India, is discussing with pension and sovereign funds to raise $500 million for its expansion plans. Arshdeep Sethi, MD of RMZ Corp says that they will use the money to double their portfolio and buy office assets across major markets in India.… Read More »
According to real estate services firm CBRE, there is a 10% increase in rentals for commercial space over the past one year. The top five micro markets that saw increase in rentals are Cybercity in National Capital Region, Koramangla in Bengaluru, Andheri East and Goregaon in Mumbai and Kukatpally, Manikonda in Hyderabad. The cities that led… Read More »
New York-based Blackstone Group is in advanced discussions with Salarpuria Sattva Group to invest about Rs 450 crore in its upcoming, 30-acre commercial property in Hyderabad, three individuals aware about the development said. One of them mentioned that this would be a pure equity deal and is expected to be settled in the next few… Read More »
Real estate developer Embassy Group plans to divest 30% in its office business to raise Rs 4,500 crore. Jitu Virwani, Chairman and MD at Embassy Group says that they are already in talks with institutional investors and hoping to close the transaction soon. 80% of the company’s overall revenue is contributed by Office portfolio. They now… Read More »
Mumbai based Phoenix Mills Ltd has taken over the full equity and management control of three properties run under a partnership from the Upal group, its JV partner. President-West, Phoenix Mills Ltd, Rajendra Kalkar said that 15-20 new stores would be added to each of the malls in Lucknow and Bareilly, with many of them… Read More »
CIDCO, sold total 8 land parcels in Navi Mumbai in an auction for total Rs 256 crore on Thursday, said two people familiar with the development. City and Industrial Development Corporation of Maharashtra Ltd (CIDCO), which is Navi Mumbai’s development authority auctioned a commercial plot in CBD Belapur and seven residential-cum-commercial usage plots at Nerul.… Read More »