NEW DELHI LEASING
Global Capability Centres drive office leasing in H1 2024, with a 37% share
India's office leasing market is dominated by Global Capability Centres (GCCs), with 37% of total leasing activity in January to June 2024. The country's robust workforce, competitive costs, and established ecosystem make it a key market for GCCs. With a projected 20% growth in GCC presence by 2025, the Indian office market is poised for significant expansion. 67% of GCCs plan to increase their office portfolios by over 10% in the next two years.
India office property market surges with record gross leasing in 2024 first half
The Indian office property market has surged, driven by increased economic activity and corporate occupancies, reaching a record 33.5 million sq ft in gross leasing in the first half of the year. Global Capability Centres (GCCs) significantly contributed, with strong leasing momentum across major cities, indicating potential for a record-breaking 2024.
Delhi airport will soon cheer up domestic flyers with two new liquor vends
This initiative aims to help Delhi regain share of domestic liquor sales following the closure of the private-operated premium liquor stores due to the rescission of Delhi Excise Policy 2021-22 in September 2022, the report (by Atul Mathur) said.
Indian office market shows strong growth in H1 2024
The Indian office market showcased resilience in H1 2024 with significant office leasing and new supply growth. Occupiers' confidence, highlighted by major players like HCL Technologies and Tech Mahindra, spurred demand for quality office spaces.
Fashion & Apparel sector emerge front-runners in India's retail landscape: JLL
The report further says a positive outlook in the organised retail market is seen post COVID-19, the sector has witnessed a surge in the launching of new infrastructural development across urban centres and emerging cities. In the first quarter of 2024 (Jan-Mar) 1.1 million square feet of retail spaces were leased.
NCLT to hear insolvency plea filed by Engine Lease Finance against SpiceJet on August 2
The National Company Law Tribunal (NCLT) has sent a notice to SpiceJet following an insolvency plea initiated by Engine Lease Finance BV, an aircraft engine lessor involved with the financially troubled airline.
- Go To Page 1
Leasing takes off as Make in India settles
The government's focus on Make in India and production linked incentive (PLI) schemes to promote local manufacturing has started to yield results as seen in rising leasing demand for light manufacturing and warehousing. The growth is further evidenced by a 4.5 times surge in leasing activity for light manufacturing spaces in 2023, compared to 2020.
Engine Lease Finance files fresh insolvency plea against SpiceJet
Engine Lease Finance is the latest of engine lessors that have approached courts accusing SpiceJet of defaulting on payments and seeking repossession of engines.
Gensol Engineering Q4 Results: Net profit grows to Rs 20 crore
Gensol Engineering Ltd on Tuesday reported a nearly three-fold jump in its consolidated net profit to Rs 20 crore during the March 2024 quarter, on account of higher revenue.
Hiring surge in travel and tourism: What it means for mid-career and senior roles
India's travel and tourism sector has rebounded post-pandemic, contributing Rs 16.5 trillion to the economy and creating 39 million jobs by 2020. The sector is also witnessing a spike in demand for AI specialists and data operations in the hospitality industry.
As mercury rises, so does the demand for home delivery
Ecommerce platforms are experiencing a surge in demand for essentials like groceries, leading to a spike in deliveries. This surge is also increasing the demand for manpower at dark stores and distribution centers. Orders in the National Capital Region have seen a sharp increase, with consumers also ordering ice-creams and beverages online.
Why India needs three salary wedges to look beyond reservations to reduce injustices
Rahul Gandhi's quota cap strategy echoes Indira Gandhi's tactics on quotas from Neerja Chowdhury's book. In 1980, she guided P Shiv Shankar on handling the Mandal Commission report, emphasizing the delicate balance of quotas' impact. India in 2047 aims to move beyond reservations and adopt an abundance mentality focusing on employment and education, shifting from scarcity thinking.
Most Indian cities reeling from labour crisis in election season
The second-longest Lok Sabha elections in the history of the nation spanning 44 days have thrown up a slew of handsome and instant earning opportunities for migrant workers back home, from attending election rallies and door-to-door pamphlet distribution to tenting, vehicle business, catering and food supply.
Kia partners with Orix to introduce vehicle lease programme
Kia India has partnered with Orix auto infrastructure services to launch the 'Kia Lease' program, aiming to provide customers with a hassle-free ownership experience without maintenance, insurance, or resale concerns. The initiative has been rolled out in major cities like Delhi NCR, Mumbai, Hyderabad, Chennai, Bengaluru, and Pune. Kia India anticipates significant growth in the leasing segment, aligning with the global trend and catering to the evolving needs of consumers.
Brookfield India REIT inks pact to acquire Bharti JV stake, funding through listed units
Brookfield India REIT acquires 50% stake in Bharti Enterprises' real estate joint venture in New Delhi, adding Grade A assets and increasing operating area by 16%. Ankur Gupta, Managing Partner at Brookfield, emphasizes the diverse portfolio.
Brookfield REIT Q4 Results: Net income jumps 89% YoY at Rs 461 crore
Brookfield India Real Estate Trust (BIRET) on Thursday reported an 89 per cent rise in its adjusted net operating income to Rs 460.8 crore during the March quarter and announced distribution of Rs 208.6 crore to unitholders. Its net operating income (NOI) stood at Rs 244.4 crore in the year-ago period.
Sweltering heat pushes up demand for temporary workers in rural markets
There is a 20% year-on-year increase in rural job vacancies, according to executives at recruitment services and consumer companies. They estimate 20,000-50,000 new temporary jobs are being created this year thanks to robust summer season demand in rural and semi-urban areas while companies with a large focus on rural businesses are looking to bolster sales and distribution presence in the hinterlands.
Incuspaze leases 350,000 sq ft in Gurugram
The company has also leased 150,000 sq ft space in Pune and 60,000 sq ft space in Jaipur, as it is looking to add 1.5 million sq ft this year owing to increasing demand for flexible space in the country.
IL&FS to monetise its stake in DND flyover connecting Delhi to Noida
IL&FS plans to sell 26% stake in NTBCL, DND flyover operator, for debt reduction. Public shareholders involved. NTBCL faces financial crunch, demands funds, awaits Supreme Court decision on toll issue.
Top 7 cities record 15.16 million sq ft gross office leasing in March quarter
The leasing performance in the March quarter is trailing only to the levels of 17.3 million sq ft witnessed in the first quarter of 2020. It has set the platform for India’s office market to reach and even surpass the peak activity levels witnessed in 2023.
Coworking firms take on lease 31 lakh sq ft office space in Jan-Mar, up 7pc annually: CBRE
In its latest report on the Indian office market, real estate consultant CBRE noted that flexible operators became second largest contributor to the total gross demand for office spaces during the quarter ended March 2024.
Net leasing of office space up 44 pc at 115 lakh sq ft during Jan-Mar in top 8 cities: Report
Cushman & Wakefield reported a 44% annual rise in office space leasing. Mumbai, Bengaluru, and Chennai saw significant increases in net absorption, while Kolkata and Ahmedabad experienced notable declines.
CBI files closure report in Air India leasing case
The Central Bureau of Investigation (CBI) has filed a closure report in one of the four cases related to a leasing contract involving Air India during the UPA regime. The closure report potentially clears Praful Patel, who was the civil aviation minister at the time. The agency has been investigating alleged irregularities and misuse of office in the leasing of aircraft by the national carrier. The closure report was filed on March 19 before a special CBI court in New Delhi, and a hearing is scheduled for April 15.
Wilmington moves NCLAT in SpiceJet insolvency case
Wilmington Trust SP Services contended that as a trustee, it could file an insolvency petition on behalf of operational creditors, which was the ground raised by NCLT, Delhi, to dismiss its petition. Counsel for Wilmington noted that NCLT, Mumbai, had passed orders in the past where it had allowed the trustee to file an insolvency petition. Wilmington filed an insolvency petition in NCLT, Delhi, in June last year over a debt of $11.2 million for leasing an aircraft to SpiceJet.
PHF Leasing to hire 200 employees over next 2 quarters
PHF Leasing Ltd, a deposit accepting NBFC, on Tuesday said the company is targeting to hire another 200 people across sectors over the next two quarters, keeping up with its growth plans and new office openings. The Jalandhar-headquartered NBFC has over 400 employees.
Mumbai, Bengaluru, Delhi among cities with strong intent to hire in FMCG sector: Report
A new report highlights Mumbai, Bengaluru, Chennai, Delhi, and Hyderabad as the top five Indian cities showing strong hiring intent in the FMCG sector. It notes increased hiring in sales, marketing, IT, office services, HR, and blue-collar roles. The report by TeamLease Services also points out a significant gender gap in the FMCG workforce, with over 90% male associates.
Employers’ intent to hire freshers up by 6%: TeamLease Edtech
Hiring intent for freshers has increased in HY1 2024. Industries with highest intent are e-commerce & technology startups, engineering & infrastructure, and telecommunications. Bangalore leads in hiring intent.
As many as 76 mineral blocks auctioned in 2023: Govt
The government announced the auctioning of 76 mineral blocks in 2023, with 30 for mining lease and 46 as composite licenses. Madhya Pradesh and Rajasthan led in block auctions. Iron Ore and limestone were among the highest auctioned minerals this year.
Office space leasing in India reaches a record high in 2023
In a recent report by real estate advisory firm Savills India, it has been revealed that office space demand in India's six major cities has reached a new all-time high in 2023. The report states that a total of 62.3 million square feet of office space was absorbed, marking a significant 12% increase compared to the previous year. According to the findings, three cities emerged as the top performers, namely Bengaluru, Delhi-NCR, and Mumbai. These cities collectively accounted for nearly 60% of the gross leasing activity in 2023.
Load More
