Page 3 - Commercial Property

Supply of commercial real estate halved in March quarter: PropEquity

Despite a lower supply, the vacant stock has remained relatively stable, pushing the rents of commercial real estate higher

Concorde to invest Rs 225 cr to build 2 mn sq ft commercial real estate

Realty firm Concorde will invest Rs 225 crore to develop commercial projects. The company announced expansion of its commercial segment with a strategic investment of Rs 225 crore. Concorde will launch over 2 million square feet of commercial space over the next two years. Out of the Rs 225 crore, the company has allocated Rs 100 crore for this fiscal. Concorde's expansion of its commercial sector includes the development of Grade A commercial spaces, the first of which Concorde Econex was launched in February 2023, and another three projects in the pipeline, the statement said. "We will focus on establishing Grade A office space in the micro markets of the city. Currently, we have three projects in the pipeline for this year. The demand for sustainable workspaces has grown significantly post-pandemic, and we aim to provide top-notch commercial properties that redefine the way people work," said Grishma Reddy, Director, Concorde. Over the last two-and-a-half decade, Concorde has

155 commercial establishments in Delhi get CM's nod to operate 24X7

Chief Minister Arvind Kejriwal has granted approval for round-the-clock operation of 155 shops and commercial establishments across Delhi, a move aimed at boosting the city's night-time economy. The file has now been sent to Lieutenant Governor V K Saxena for a decision on whether he would like to express a difference of opinion with the elected government on the approval, the Chief Minister's Office (CMO) said in a statement. The chief minister has granted approval for round-the-clock operation of 155 shops and commercial establishments across Delhi, the statement said. By approving 24X7 operations for a new batch of commercial applicants, the Delhi government aims to generate more job opportunities, safeguard the interests of workers, and contribute to the overall development of the local economy, it said. The extended operational hours will also ensure round-the-clock access to essential goods and services for Delhi residents, it added. The government has granted the applicants

Fractional ownership platforms make commercial real estate accessible

Until they come under Sebi's MSM REIT framework, retail investors must rely on their own due diligence when investing through them

Vaishnavi Group leases 400,00 sq ft office space to Navi Tech in Bengaluru

The Insurance major has leased the office for nine years and 11 months and will be paying a rent of over Rs 200 crore over the next five years for the office asset

Demand for commercial property in India robust, US, Europe struggle

The unabated interest hikes by the Federal Reserve of the United States have resulted in a situation where cheap money is no more available

Second commercial project in Chennai almost complete, says realty major DLF

Realty major DLF is in advanced stage of completing its second commercial project 'DLF Downtown' being set up at an outlay of Rs 3,200 crore in the city in a move that would strengthen its presence here, a top official said on Friday. The project aimed at serving clients engaged in the information technology (IT) and information technology enabled services (ITeS), banking, financial services and insurance sectors (BFSI) was expected to be completed by the end of the year, DLF Rental business managing director Sriram Khattar said here. DLF Cybercity Chennai, the first project undertaken by the realty developer in Chennai, on Friday marked the completion of 15 years of operation at Manapakkam in the city. A recreational and social venue 'The Hub' spread across five lakh sq ft land inside the campus of DLF Cybercity Chennai was also unveiled on the occasion. "DLF Downtown is coming up at Taramani at an outlay of Rs 3,200 crore. It is expected to commence operations before the end of th

Migsun Group to invest Rs 706 cr in high-street commercial project in Delhi

Will develop a total built-up area of 6.3 acres on the site and expects to deliver the project within three years

Experts see 2023 as a year of smooth sailing for real estate sector

Demand likely to remain buoyant despite prospects of another rate hike; industry looking for tax breaks, lower transaction costs

M3M expects Rs 5,000 cr in sales through 13-acre land acquired in Noida

Real estate firm will invest Rs 2,400 cr in mix-use project of housing, retail and service apartments

Commercial spat on LNG between Germany, India turns into diplomatic tussle

Diplomats have been called in to try to resolve a disagreement over a cut in supplies of liquefied natural gas to India by a German-state-backed company

Average office rental up 8% in Delhi-NCR in January-June period: Report

Office rentals in Delhi-NCR rose by an average of 8 per cent in the first six months of this year, according to property consultant Savills India. In its latest report 'India Market Watch Office H1 2022', Savills mentioned that the Delhi-NCR witnessed gross absorption of 5.6 million square feet in H1 (January-June) 2022, up by 194 per cent from H1 2021. "Unlike H1 2021, which saw almost equal share in the leasing activity from Gurugram and NOIDA, the first half of 2022 witnessed varied leasing activities from these two regions," the report said. Gurugram contributed to around 64 per cent of the overall absorption in Delhi-NCR, while Noida had only 34 per cent share. Overall, absorption in Delhi went down from 4 per cent in H1 2021 to 2 per cent in H1 2022. "Average rentals in the city have increased by 8 per cent year-on-year (Y-O-Y). MG Road & Gurugram micro markets reported the highest appreciation in rents with 20 per cent and 15 per cent Y-O-Y respectively," the report ...

Kaisa latest China developer to delay earnings results; shares fall

Company says a coronavirus lockdown in Shenzhen left audit work incomplete so it cannot publish financial results on time.

DLF to expand retail biz; to add 2.3 mn sq ft of retail space in NCR, Goa

Realty major DLF on Wednesday said the company will develop six new retail properties across major cities comprising 2.3 million square feet area as part of its expansion plan

BS Number Wise: Home truths about Indian real estate in the pandemic

Top tenants of commercial real estate-mostly IT companies-actually added to their office stock and demand for residential space is reviving.

Puravankara hits pause button on warehousing JV with Morgan Stanley

Morgan Stanley is scouting for deals, signing JVs in warehousing

Godrej Properties, Prestige Estates eye Rs 10K-cr sales booking club

Godrej and Prestige posted sales bookings of Rs 6,725 crore and Rs 5,461 crore, respectively, in 2020-21 (FY21)

Puravankara eyes bigger share from commercial properties in 4-5 years

It is looking to develop commercial properties in Bengaluru, Hyderabad, Chennai and Mumbai and Pune, is aiming at 8.5 mn sq ft in next 3-4 years

Office leasing down 22% in H1 2021 as demand catches Covid-19 bug: Report

Covid-19 infections and slow vaccinations have resulted in people waiting out rest of the year 2021 before leasing or renewing leases

Mall investors slam brakes on new launches amid Covid-19 pandemic

Many might be forced to sell off their properties to new players or repurpose them to create some office or co-working space to hedge their bets