Tag Archives: Commercial Sales

Prestige Estates may sell 40% stake in rental unit to raise around Rs 2,000 crore

India’s second largest listed real estate developer Prestige Estates Projects plans to raise at least $300 million, around Rs 2,000 crore, by selling up to 40% stake in its rent-yielding commercial assets and has drawn interest from Canadian Pension Plan and GIC of Singapore. The southern developer has hired JP Morgan to advise on the… Read More »

US investors to sell stake in BKC’s landmark project for Rs1,500 crore

A consortium of US-based investors that developed First International Finance Center (FIFC), a landmark commercial building in Mumbai’s financial district, Bandra Kurla Complex (BKC), plans to sell its stake in the property for around Rs. 1,500 crore, said two people aware of the development. Around 300,000 sq. ft of the total 657,000 sq. ft office complex… Read More »

DLF shortlists bidders for mega stake sale deal

DLF Ltd, India’s largest real estate developer, has shortlisted bidders for the ongoing office stake sale transaction and expects to receive binding, updated bids in the form of shareholder agreement once the short-listed bidders complete their due diligence. The realty firm circulated the information memorandum to a number of investors across the globe in April, and… Read More »

Foreign buyers fuel surge in Canadian office building sales

Foreign buyers are helping to drive a jump in sales of top-tier Canadian office buildings, industry players say, with a soft currency and the country’s relative stability helping attract interest from abroad. While the Canadian economy is struggling with the drag from weak oil prices, global events like Britain’s vote to leave the European Union have… Read More »

Cognizant buys 15 acre land with SEZ status from Shapoorji Pallonji in Kolkata

The Mamata Banerjee government has permitted Shapoorji Pallonji Group to sell 15 acres of its 50 acre land at Action Area III of New Town-Rajarjat to information technology giant Cognizant Technology Solutions (CTS). Significantly, this 50-acre land parcel owned by Bengal Shapoorji Developers, a subsidiary of Shapoorji Pallonji group, enjoys special economic zone (SEZ) status. The group… Read More »

Blackstone, 2 others selected to sell DLF’s stake in office rental arm

Private equity group Blackstone; a consortium of sovereign funds of Abu Dhabi, Qatar together with Kotak Realty Fund; and GIC of Singapore are the final three shortlisted candidates in race to pick up the entire 40% stake held by DLF promoters in the office rental arm -DLF Cyber City Developers Limited (DCCDL). The three have submitted… Read More »

Raheja Universal to sell land parcels outside MMR to fund future projects

Real estate firm Raheja Universal Ltd is looking to sell land parcels, totaling over 600 acres located outside the Mumbai Metropolitan Region (MMR), to fund its forthcoming projects as it focuses its business in Mumbai and its suburbs. MMR refers to the region in Maharashtra consisting of Mumbai and its neighbouring towns, including Thane, Navi Mumbai… Read More »

Some buyers using “Brexit clauses” to drop UK commercial property deals

Some commercial property buyers are invoking “Brexit clauses” written into contracts agreed before Britain voted to leave the European Union, allowing them to walk away from the deals. In other cases buyers have yet to exercise such get-out clauses but are keeping the option open to try to renegotiate the price down, according to property lawyers… Read More »

China’s Vanke, partners in talks to pay Blackstone $1.9 billion for property firms

China Vanke Co Ltd said it and partners are in talks to acquire some commercial property firms from Blackstone Group LP and other third parties for 12.9 billion yuan ($1.9 billion). The disclosure is a more detailed response by Vanke, currently mired in a high-profile corporate power struggle, to enquiries from the Shenzhen bourse after criticism… Read More »