Gurgaon remained the preferred choice for opening offices in the National Capital Region (NCR) among companies, grabbing 51% share or 3.88 million square feet of the total office space leased in the region in 2016, according to a property consultancy. Noida and Delhi accounted for about 36% and 13% share, respectively, out of the total… Read More »
The adverse impact of demonetisation on the real estate sector towards the fag end of the year notwithstanding, the year 2016 witnessed a 9 per cent jump in office space leasing. While the information technology-enabled services (ITeS) sector was a big driver for projected growth in the coming months, there could be some challenges ahead,… Read More »
Led by Bengaluru, office space lease activity rose last year to breach the 40 million-sq ft mark in the country. Much of the demand came from the IT and ITeS sectors and financial services companies in leading cities in India, an independent property consultancy said. Gross space absorption rose 9 per cent to about 43 million… Read More »
The price of Brazilian commercial real estate has continued to contract, signaling the sector remains vulnerable to the effects of the country’s recession, according to market data released Tuesday. The monthly FipeZap indicator showed commercial property prices dropped 0.45% in November from the prior month, extending year-to-date losses to 3.18%, the research group said. In October, commercial… Read More »
Abbott, one of the largest healthcare product companies in India, has picked up an entire under-construction building with over 1.60 lakh sq ft built-up area in the Andheri suburb of Mumbai to set up an innovation & development centre, said two persons familiar with the development. The deal assumes significance as the lease will run… Read More »
Barclays said on Tuesday it has agreed to lease office space in London’s Canary Wharf district to the British government in an effort to save about 35 million pounds ($45 million) annually. The Cabinet Office will lease about 540,000 square feet of space in 10 South Colonnade, according to a statement. The handover is expected to… Read More »
IKEA Group, the leading Swedish home furnishings company, is scouting for land in Greater Noida to set up its first showroom in north India. Representatives of the company met Deepak Agarwal, CEO, Greater Noida Industrial Development Authority (GNIDA), on Friday and expressed interest in setting up the facility on nearly 25 acres of land in… Read More »
Registry and financial services provider Link Intime India has picked up nearly 60,000 sq ft office space in commercial complex 247 Park — now owned by Blackstone Group — in the Vikhroli suburb of Mumbai on lease, said two persons familiar with the development. The total lease tenure is nine years with a clause of rental… Read More »
Swiss bank UBS has entered into an agreement to pick up 4 lakh sq ft of office space on lease at realty developer K Raheja Corp’s IT Special Economic Zone Gigaplex at Airoli in Navi Mumbai in one of the largest occupier lease transactions, three persons familiar with the development said. The Zurich-headquartered, NYSE-listed multinational… Read More »
Infosys Technologies is locking up huge office spaces across the country, and has leased over 9 lakh sq ft office space across major cities to expand its business. In a recent transaction, Infosys Technologies has picked up over 2,10,000 sq ft office space on lease in Bhartiya City at Thanisandra Road in Bengaluru, said two persons… Read More »