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 »
In a move to expand the exchange’s operations in terms of technology (Business Continuity and Disaster Recovery – BC & DR) and education, Multi Commodity Exchange of India LtdBSE -0.01 % (MCX) has acquired office space in GIFT City in Guajrat. This office space will be utilised by MCX to set-up a full-fledged business continuity facility… Read More »
Demand for prime office space reached a ten quarter high of approximately 11 million sq. ft. for the July – September period, according to a latest India Office MarketView Report – Q3 2016. The quarter recorded a growth of 9% on a q-o-q basis and 14% on a y-o-y basis. As on September 30, 2016,… Read More »
Cerestra Advisors Ltd, a real estate-focused private equity firm, has bought Alexandria Knowledge Park at Genome Valley in Hyderabad for Rs 400 crore as it plans to build an office portfolio focused on R&D clients. Alexandria Knowledge Park, which counts tenants such as Swiss pharmaceutical giant Novartis, was previously owned by New York-based Alexandria Real… Read More »
The city’s office space occupiers will face upward revisions in rents in the coming years, said a report. “Compared to Q2 2015 when Mumbai’s rental values had bottomed out, the city will now start to see acceleration in its rental value growth from Q2 2016,” it said. The research tracks rents (in local currency) for prime Grade-A… 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 »
Multilateral lender World Bank is expanding its footprint in Chennai and has signed up for additional space of nearly 70,000 sqft. World Bank set up its back office operations in Chennai in 2001 in a small space in Raheja Towers on Anna Salai. It was soon allocated land in Taramani in 2002 and set up a… Read More »
Consultancy and management services provider Accenture has leased around 280,000 sq ft office space on a long-term lease at Bagmane World Technology Center IT SEZ in Bengaluru, said two persons familiar with the development. The lease, which was formalised early this year, has a monthly rental of Rs 59 per sq ft, that translates into an… Read More »
Large office space developers in India are set to raise more than $3.5 billion by March from institutional investors and pension funds. The fundraising will help the property developers bring new investors on board and expand their project portfolios. Bengaluru-based RMZ Corp., backed by the Qatar Investment Authority (QIA), plans to raise about Rs1,700 crore… 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 »