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 »
Just as CNBC-TV18 reported a few months ago, the commercial real estate space in Chennai has suddenly become prime property. Chennai’s IT corridor could soon turn home to a few new names. The last three months have seen the city’s preferred realty corridor turn into a hotbed of commercial deals. It began in February when Ford India… 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 »
Apple is in talks to lease over 40,000 square feet of office space in Bengaluru where it intends to set up a development centre, three people familiar with the development said. “The company has signed the letter of intent with Galleria, a mixed use project in Yelahanka in Bengaluru,” one of these people said. Galleria is… Read More »
Top Indian cities have seen a significant rise in large office space transactions with companies across sectors expanding and consolidation operations, kindling hopes of a revival in an otherwise lacklustre real estate industry. India’s top six property markets reported 236 transactions for large office spaces — of at least 25,000 square feet and up to… Read More »
Bengaluru, which has a total stock of 96 million square feet of grade-A (non-captive) office space, is currently facing a shortfall in the supply of office space. In 2015, 14-15 million square feet got leased out. This includes a good volume of pre-committed space, which will be occupied over the next two-three years. Interestingly, the trend of… Read More »
Starting next month, the Greater Hyderabad Municipal Corporation (GHMC) will begin enforcing the Energy Conservation Building Code (ECBC) to ensure efficient use of power. The implementation of the code will begin with the granting of permissions to 25 new buildings – both government and private commercial complexes. The move comes at a time when the GHMC… Read More »
For office sector, year 2016 kick started on a positive note with office absorption totaling over 8.8 million sq ft across nine major cities in the March quarter. This includes pre-commitments of about 0.8 million sq ft. This was about 11% up from the previous quarter. Strong positive absorption from technology firms helped further gains… Read More »
After investment banks, Maker Maxity, the plush office complex owned by Mukesh Ambani and Maker group in Mumbai’s famed Bandra-Kurla Complex (BKC) is also becoming home to global sovereign and pension funds. Marquee names such as Canada Pension Plan Investment Board (CPPIB), Singapore’s GIC and Qatar Investment Authority (QIA) have taken up spaces in the… Read More »
