BlackRock Inc has agreed to sell a 43-storey office building in Singapore to Qatar Investment Authority, a sovereign wealth fund, for S$3.4 billion ($2.5 billion), in what the U.S. firm said was the largest-ever single-tower real estate deal in the Asia-Pacific region. Asia Square Tower 1, located in the city-state’s financial district, has over 1.25 million… Read More »
Investing in commercial property is now more lucrative than residential Residential property has always been the first choice of investors wanting to capitalize on the real estate investment opportunities in India. However, after the economic slowdown in the past few years, the commercial segment is catching their fancy. Private equity investors are now buying stakes… Read More »
India’s rich investors have switched to buying commercial property in place of housing over the last 15-18 months following a tapering down of property price appreciation in the residential real estate in top Indian cities. Commercial property serves as a lucrative investment option with investors gaining from rental income as well as capital appreciation. Grade… Read More »
In India’s largest deal so far in the commercial property space, Canada-based Brookfield Asset Management is set to acquire Hiranandani Group’s offices and retail space in Powai, Mumbai, for around $1billion, or about Rs 6,700 crore, two people familiar with the development said. Hiranandani Group, a partnership between Hiranandani brothers Niranjan and Surendra, owns 4.5… Read More »
Mumbai, the country’s financial capital, will witness a sharp drop in economic activity pertaining to the manufacturing and construction sector over the next two decades. In the city’s revised development plan, planners have projected that the stake of these two sectors in Mumbai’s overall economic chart will go down by 11 percentage points — from 31… Read More »
As per a recent trend, lot of corporates are finding their new offices in Delhi’s Aerocity. The 45 acres modernization plan proposed by the GMR Group led by Delhi International Airport Ltd (DIAL) for the IGI airport has brought forward Aerocity as a new commercial space for offices to be in the national capital. Read… Read More »
Bullish on the rising demand for commercial real estate, Mumbai-based developer K Raheja Corp. is planning to invest around Rs.2,000 crore in acquiring land and building 6 million sq. ft of commercial space in the next two-and-a-half years in Navi Mumbai. The company currently operates three information technology (IT) parks in Navi Mumbai under the brand… Read More »
Realty firms K Raheja Corp and Gera Developments have partnered to construct an IT-SEZ in Pune at an investment of about Rs 1,000 crore over the next four years. Property consultant JLL India has facilitated the deal between the Mumbai-based K Raheja Corp and Pune’s Gera Developments for the development and operation of the prime 30-acre… Read More »
Embassy Group has partially acquired a stalled SEZ project in Chennai from SNP Infrastructure for an undisclosed amount, two people aware of the development said. The 26-acre property on Thoraipakkam-Pallavaram road is close to the airport. Land on Pallavaram road costs about Rs 20 crore per acre. “The special economic zone project was shelved in 2008… Read More »
The decision of DLF’s promoters to sell their 40% stake in the rental arm business, DLF Cyber City Development (DCCDL), has potential to unlock value for the listed company DLF. But given the past track record, when the sale of the company’s some of the other assets dragged beyond expected time, a critical task will… Read More »
