The demand for commercial real estate across the country is getting stronger and is witnessing a sustained momentum. The office space absorption across top 9 property markets has seen a sustained growth with total 28.3 million sq ft picked up during the first nine months of 2016, showed a report. Last year, commercial real estate in… 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 »
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 »
American financial data and analytics firm Factset has sealed a deal to set up an 8.6-lakhsquare-feet office in Hyderabad, its largest in the world, earmarking Rs 800 crore for lease rentals over 15 years. The Nasdaq and NYSE-listed firm, which has 8,000 employees in 40 locations across 21 countries, is gearing up to hire 7,000… Read More »
Research Now, the global leader in digital data collection to power analytics and insights, today announced the official opening of a new India office located in the Cyber City business hub in Gurgaon, close to New Delhi. The new facility provides space for more than 50 staff servicing the India market, Asia Pacific clients, and… Read More »
Noida is emerging as a hub for smartphone makers. While the city earlier housed assembly and manufacturing facilities, a number of mobile handset makers are setting up offices and research units there. Chinese handset manufacturer Vivo leased 250,000 sq ft in the World Trade Centre at Greater Noida for its office, R&D centre and manufacturing… Read More »
Mobile chip maker Qualcomm is close to acquiring about 0.5 million square feet of office space in Bengaluru to expand its operations in the city, according to people familiar with the matter. The company is looking for space in Outer Ring Road, which is home to numerous multi-national companies including Google, Cisco and Visa, sources… Read More »
Amazon, the Seattle-headquartered e-commerce giant, has signed two high-profile office space deals in India during the April to June quarter (Q1), in sync with its rush to invest in the country. Amazon founder and Chief Executive Officer Jeff Bezos recently announced an investment of $3 billion. In 2014, the company made a commitment for $2-billion… Read More »
The recovery in demand for commercial real estate being witnessed across the country since 2015 more sustainable and long-term in comparison with the one witnessed in 2011 as the office space absorption has now been growing on the back of combination of lower rents and a positive economic outlook, said a report. This is unlike the… Read More »
Even in the backdrop of global slowdown concerns, nearly 10.4 million sq ft of office space was absorbed in the country during April-June, backed by demand from sectors like IT, BFSI and manufacturing, a report said. According to a report, nearly 10.4 million sq ft of office space was absorbed during second quarter of 2016, registering… Read More »