WeWork adds its fourth space in Mumbai
WeWork – the platform for creators that provides collaborative space, community and services to help people make a life not just a living – announced the launch of its fourth space in Mumbai, in Goregaon.
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More than 40 million sq ft of multi-tenanted IT SEZ space to completion by 2020
The uncertainty regarding the continuity of fiscal incentives is an area of growing concern among various stakeholders of Special Economic Zones (SEZs). Although, more than 40.0 million sq ft of new supply is scheduled for completion by 2020, which is currently mandatory to qualify for the companies to get income tax benefits in SEZs, it seems unlikely for all the projects to complete construction by then.
Mahindra Lifespaces–HDFC Capital affordable housing launches its first project
Mahindra Lifespace Developers Limited (MLDL) has launched ‘Happinest – Palghar’ – the first affordable housing project to be undertaken by a joint platform between the Company and HDFC Capital Affordable Real Estate Fund-1 (‘HDFC Capital’), a fund managed by HDFC Capital Advisors Ltd.
Virtuous Retail acquires North Country mall for 700 crores
Virtuous Retail South Asia has acquired the 2 million sq ft North Country Mall from Sun Apollo/Gumberg for INR 700 crores (USD 108 MM), including paying down debt. With this acquisition, VRSA establishes its presence in North India, adding to its existing award winning portfolio of community-centric centers VR Surat and VR Bangalore, and the 2 million sq ft. VR Chennai slated to open in Q4 2017.
26% drop in office space absorption in Q1 2016
Bottom Line: Following a strong fourth quarter of 2015, the…
Making specialty malls work in India
India is famous for its traditional markets and shopping streets…
Mahindra Lifespaces launches Luminare Solaris, at Golf Course Extension Road, Gurgaon
Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has launched Luminare Solaris, the next phase of its luxury residential project in Gurgaon, located at Sector 59, Golf Course Extension Road.
What high streets can learn from malls
The meteoric growth of e-commerce in India in recent years was broadly seen as a threat to physical retail. Seemingly bearing this out, ASSOCHAM states that e-commerce has grown at a compounded annual growth rate (CAGR) of ~30%, while retail sector growth has been at 15% CAGR over the last five years.
With 96 operational malls, Delhi-NCR is India’s mall capital
With nearly a hundred malls in the Delhi-National Capital Region (NCR), it has become the default mall capital of India. No other city comes close to the number of operational malls that are found in Delhi-NCR.
Approximately 22% drop in absorption for office space in Q1 2015 over Q1 2014: CBRE
Following a particularly strong fourth quarter of 2014, the first quarter of 2015 reported comparatively slow activity on the office market front across leading cities. This apparent demand drop was largely because most corporate space occupiers were still strategizing their real estate plans for the year during the period, with fewer transaction decisions being implemented in the first quarter.