SOBIA KHAN
Awfis plans to raise seats by 50% in FY25
Awfis Space Solutions targets a 50% seat expansion to 135,000, focusing on managed office spaces to drive revenue growth. The company plans to add 40,000 seats by FY25, with new centers following a managed aggregation model. Sobia Khan's report highlights the successful addition of 15,084 seats, primarily under the managed aggregation approach.
Hyderabad housing market seeing significant trend towards luxury homes: NAREDCO President
The Hyderabad property market is witnessing a surge in demand for luxurious homes with spacious layouts and modern amenities. G Hari Babu, National President of National Real Estate Development Council, discussed rising property prices and evolving market dynamics. Factors include government policies, unlimited FAR, and infrastructure development, driving significant growth in both residential and commercial sectors.
DryLuru: India’s Silicon Valley either looking up at the skies or awaiting tankers for water
India’s technology city is either looking up at the skies or awaiting tankers for water. Since Cauvery alone cannot fulfill Bengaluru’s water needs, experts say the city needs an approach integrating multiple sources for long-term solutions. What happened earlier this month is just a warning.
Expect to have over 50 World Trade Centers in India in next 5-7 years: Chairman John E. Drew
WTCA's strategic expansion in India, driven by quality reputation and economic growth, positions the brand for further success. The global office market faces shifts post-pandemic, with varying impacts across regions as companies navigate remote work trends.
Green Revolution: Porter's VP-Trucks discusses the role of EVs in achieving sustainable logistics and reducing costs
The Indian government's ambitious targets for net-zero emissions by 2070 and reducing logistics costs below 8% of GDP drive the need for a green logistics ecosystem. Manish Gupta, Vice President-Trucks at Porter, emphasizes the role of multimodal integrated transportation and digitization, highlighting a potential 6% cost reduction through Zero Emission Transportation (ZET) vehicles.
BofA leases 1.1 m sq ft office space in Chennai
In the first phase, the company will occupy around 710,000 sq ft, while the remaining 390,000 sq ft in part of the second phase expansion option by the multinational bank, as per the registered document. As per the industry estimates, the property can seat 7,000-8,000 employees.
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Listing of 4 BHK flat in Bengaluru with Rs 2.5 lakh rent, Rs 25 lakh deposit goes viral
A Bengaluru man has shared a listing on Twitter of a 4 BHK flat with a rent of Rs 2.5 lakh and a Rs 25 lakh deposit in the HSR layout area of the city. The listing had an "Apply Loan" link besides the deposit column.
Global investors' interest in Indian office assets remains high, says Colliers India CMD
Institutional investment in Indian real estate remained strong in Q1 2023, totaling $1.7bn, with the office sector leading the way, according to Sankey Prasad, CMD Colliers India. He believes the sector is expected to remain strong in 2023, with the office sector witnessing 35-38m sq ft of office leasing. The Indian property market currently offers attractive pricing, valuations and yields, compared to other APAC cities. Global institutional investors continue to show interest due to India's expanding talent pool and strong growth prospects, while domestic investors are looking to diversify their portfolios.
Embassy Group plans to sell assets to cut debt by a third: Group chairman Jitu Virwani
Virwani said Embassy has "substantively and meticulously" addressed all the observations made by the income tax department and the National Company Law Tribunal (NCLT), which, through a recent order, withheld the merger of Indiabulls Real Estate with some of Embassy Group entities.
Indiabulls-Embassy merger will create one of India’s largest listed real estate development company, says Jitu Virwani
Embassy Group is planning to restructure debt and focus on residential and commercial businesses following the merger with Indiabulls Real Estate amid concerns raised about valuation and land litigation that halted the merger. The NCLT withheld the merger due to objections raised by the IT department, despite dismissing the minority shareholder's concerns.
Actor Samantha Ruth buys Rs 7.8 crore flat in Hyderabad
Samantha Ruth Prabhu is currently shooting for her second Bollywood project. The project is helmed by the filmmaker duo Raj Nidimoru and Krishna D.K. The long-awaited Citadel series will feature actor Varun Dhawan in a lead role. Many reports suggest that the upcoming project is a major reason behind Samantha’s shift to Mumbai. The actress is looking forward to being involved in more Hindi film projects. Samantha is gearing up for the release of the movie titled ‘Shaakuntalam.’
Budget tax proposal won't impact growth levers, upside potential intact: Vikaash Khdloya, CEO, Embassy REIT
"In effect, the new tax proposal impacts the distribution element of the REIT product by around 50-100 bps of the post-tax distribution yields, based on the investor category. It is important to note that REITs are a total return product, and the proposed tax changes do not impact the growth levers."
Demand for high-end and luxury segment likely to remain robust in 2023: Colliers India CEO
"Demand for the high-end and luxury segment will remain robust. In 2023, the effective demand and relevant supply will determine how prices move. Developers with a good track record of executing projects will continue to see good traction in the market," said Ramesh Nair, CEO (India) and MD, Market Development, Asia, Colliers.
Embassy REIT plans to commit over Rs 3,200 crore for new office development: CEO Vikaash Khdloya
"Our business strategy focussed on 4 key pillars of leasing, development, acquisitions and ESG, remains unchanged. We remain committed to our strategy – of providing high quality office properties to our occupiers to cater to their business growth, growing our NOI and distributions through growth initiatives, both organic and inorganic, and delivering total returns to our unitholders. "
CapitaLand Investment India looks to double assets under management to $8 billion
"IT companies have added massively to their headcount and there is a huge demand for office space, but the supply is still constrained. We are quite bullish about India and will be acquiring additional properties in the coming year across segments," said Gauri Shankar Nagabhushanam, CEO, India Business Parks, CapitaLand Investment. - Sobia Khan
Logistics, industrial and data centres hold immense potential in today’s times: Ramesh Nair CEO (India), Colliers
"Office occupiers are still cautious about re-entry, while the landlords have become more flexible to accommodate the demands of occupiers. Decision-making is still slow due to the uncertainty around the covid-19 pandemic and the fear of a third wave. We are seeing more renewals, which means tenants are pushing decisions on future portfolio requirements."
CREDAI members in Karnataka will not increase property prices for the next 3 months
The pandemic and subsequent lockdowns have put our lives and livelihoods on hold. there have been no new launches since the outbreak. The inter-relation between supply chains, migration of labourers, cost overruns, and liquidity constraints have created significant challenges for the sector, says Kishore Jain - President, CREDAI Bengaluru.
Indian retail industry may see revival by August 2020: Executive director, Prestige Group
We foresee the sector reviving by August 2020, with business significantly picking up during the festival season, namely the Dussera / Diwali period. People have been confined to their homes for a long time now. They are waiting to step out and celebrate their freedom by doing things that were a normal part of their daily lives before COVID-19 hit, Suresh Singaravelu said.
Focus on safety as malls plan to open
From UV baggage scanners and using expensive chemicals to sanitise washrooms and common areas to ensuring contactless parking and adherence to social distancing norms, malls are rolling out measures to make shoppers feel safe.
Fans, hi-tech filters oust old-style office ACs amid Covid fear
A large number of companies ET spoke to are not switching on central AC, even though it’s peak of Indian summer. Wherever possible, windows are being opened and the job of beating the heat has fallen on pedestal fans.
Covid-19 impact: After being locked down, companies now set to suffer labour pain
Industry leaders said April-June quarter would be a washout even for the high and mighty.
RERA, other steps will bring consolidation to realty sector: Ashish Puravankara, Puravankara
Ashish Puravankara speaks about the Bengaluru-based real estate developer's plans and the impending revival of the sector.
Ten city projects denied green nod
SEIAA's list of projects on hold are Oracle India, Brigade Enterprises, Sterling Developers, Nitesh Estates, Farah Builders. TGR Projects, Alliance Venture Group, Krishna Enterprises, Radiant Structures and Esteem Alchemy.
Mall owners open doors for MNC brands
Mall owners across the country are increasingly tightening the noose on non-performing brands as the Indian retail sector.
Carlton Towers cuts rent to shed ghost of 2010
The Carlton Towers Owners' Association has dropped rentals to as low as `40 per sqft per month, a steep fall from `105 the complex commanded 6yrs ago.
Xander sells Boutique Hotel Devigarh Palace in Udaipur
The sources would not share the deal size, but said Xander had to take a haircut on its investment in the property as there were very few buyers.
Builders turn to PEs, NBFCs to refinance debt
Piramal Fund Management invested Rs 1,200 crore in a project of Omkar Realtors & Developers and part of this was for repaying existing debt.
India is full of opportunity for Starwood: Stephen Ho
India is the second-fastest growing market and currently the fourth-largest country for Starwood. Globally, North America is the biggest market.
Budget 2013: Home loans under Rs 25 lakh to get additional 1 lakh deduction
At present, tax payers are allowed to set off interest payments up to Rs 1.5 lakh against their taxable income.
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