Jones Lang LaSalle plans to raise Rs.1200 Cr for investment in the commercial realty sector.
Sanofi India acquires 150,000 sq. ft. of office space in Powai, Mumbai, planning to shift their headquarters from Andheri to this new location worth Rs.220 Cr.
Office space demand in India is projected to reach 30.5 million sq. ft. in 2013, a 12% year-over-year increase, driven by improving global economy, increased FDI, and revised repo rates.
Jones Lang LaSalle India predicts a 68% increase in office space absorption this year, driven by suburban expansion.
Commercial real estate faces challenges due to a decline in office space absorption by IT firms across India's top eight cities. This slowdown impacts both demand and supply.
Commercial property investment is most lucrative in major cities with robust infrastructure, better connectivity, and higher rental appreciation compared to tier-II cities.
Foreign investors shift focus to India's commercial sector due to declining home prices, with firms like Blackstone, Xander, and Morgan Stanley leading the charge.
Godrej Properties and Jet Airways are partnering on a 1.3 million sq ft commercial project in Mumbai's Bandra Kurla Complex. The project, Godrej BKC, is expected to generate Rs. 3,500-4,000 crore.
The demand for office space in India is set to rise as foreign retailers like Starbucks and H&M expand their operations in major cities.
Connaught Place in New Delhi and Bandra-Kurla Complex (BKC) in Mumbai are listed among the top and most expensive office locations in the Asia-Pacific region, according to Cushman & Wakefield's annual survey.
Corporates are relocating their headquarters to larger offices as rental prices decline in major cities like Bangalore and Mumbai, seeking better amenities.
A sluggish real estate market has delayed multiplex construction, impacting Bollywood's revenue. Approximately 150 multiplexes are delayed, affecting potential earnings for films. More multiplexes are needed.
Morgan Stanley is considering investing in a 1.6 million sq ft office space development in Mumbai's Bandra Kurla Complex, marking their first commercial sector investment in India.
GMR Group intends to sell its Chennai technology park for Rs.150 Cr, with Global Tech Park and a prominent CA vying for the acquisition.
US-based private equity firm Blackstone, along with HDFC and Embassy Realty, plans to purchase a Business Park in Bangalore for $367 million.
Walmart and the US government have expressed concerns to the Indian government regarding state veto power over FDI in retail. This power creates uncertainty for foreign investors like Walmart, who are hesitant to enter the Indian market due to varying regulations across states.
Spice Global, led by Bhupendra Kumar Modi, is entering the hospital and real estate sectors with the Saket City Hospital set to open by 2014, aiming to expand across India.
Office space absorption in Bangalore fell by 24% in 2012 compared to 2011 due to weaker demand from the IT and ITeS sectors, impacted by the global economic slowdown.
The hotel industry faces a significant labor shortage, hindering expansion plans while the government and companies struggle to find solutions to the crisis.
Blackstone is in final talks to acquire Bangalore's Vrindavan Tech Village for Rs.900 crore. The IT park boasts major tenants like Cisco and Nokia, with Blackstone aiming to capitalize on rental income.
Sahara India's bid for a 30-year lease of Air India's Mumbai headquarters was rejected. Air India aims for shorter leases to retain control and avoid the fate of Sears Tower.
Bangalore's Outer Ring Road (ORR) is booming as a commercial real estate hub, driven by strong IT sector demand and limited office space, according to a Jones Lang LaSalle India report.
Indian real estate anticipates recovery from a slow 2012, fueled by retail FDI policy. Increased demand for retail spaces is expected to drive construction and boost commercial real estate.
The Indian government's new retail FDI bill has been passed, offering hope to mall owners to fill vacant spaces as foreign retailers gain entry into the market.
Exilion, a real estate firm, intends to purchase Nokia's headquarters in Espoo, Finland for approximately ₹1218 Crore, with Nokia leasing it back as part of cost-cutting.
