Realty developer K Raheja Corp has started the process to sell around 20% stake in its commercial or income-producing office portfolio spanning 20 million sq ft, said two persons familiar with the development. The company is looking to fetch Rs 2,700 crore to Rs 3,000 crore through this stake sale. “While the intention to list… Read More »
Private equity funds are exiting residential real estate investments primarily through the refinancing route at the end of their investment tenure as against the normal process of cash flow accruals. Instances of several fund exits in recent months show that delays in projects and slow sales have made it tough for property developers to repay… Read More »
The state government has permitted the AP State Road Transport Corporation (APSRTC) to covert its vacant land into commercial use zones (CUZs) or multiple use zones (MUZs). All the urban civic bodies and urban development authorities as well as the Capital Region Development Authority in Amaravati will be allowed to use the CUZs and MUZs.… Read More »
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 »
LinkedIn, a US-based professional network with over 35 million members in India, on Wednesday moved to a new office in Bengaluru. The new office with 222,000 sq feet spread across three floors can accommodate about 800 employees. The facility will house functionally diverse LinkedIn employees, including product and sales teams. Read more: Deccan Herald
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 »
The new airport at Kishangarh, which is being developed to cater to the historical city of Ajmer, is likely to be operationalised by July next year for which airlines have evinced interest to operate flights from Mumbai and Delhi. Located in the biggest marble market of Kishangarh, the airport building’s construction work is most likely… Read More »
The Indore Development Authority (IDA) is planning to take possession of land near Navlakha bus stand from the Indore Municipal Corporation (IMC) in order to raise funds for its projects by leasing it out. The land near Navlakha bus stand was cleared from encroachments last year by the civic body. The IDA board members had asked… Read More »
Developers constructing luxury commercial spaces in Mumbai, the country’s most expensive real estate market, are set to cash in on a series of steps outlined in the draft Development Plan 2014-34 being prepared by the Brihanmumbai Municipal Corporation. After permitting higher FSI up to five times the plot size for certain categories of commercial buildings,… Read More »
Bengaluru is staring at a shortfall in office space this year, with demand pegged at 10 million sq ft while supply is expected to be 8-8.5 million sq ft. Barely 4-5% of Bangalore’s total stock of 96 million sq ft of grade-A non-captive office space is available on lease, according to a real estate services firm. In… Read More »