Embassy Group investing INR 2,000 Cr to develop additional 6 million sqft in Embassy Tech Village, Bangalore

  •   March 2018

Embassy Group will develop another 6 million sqft of office space in Embassy Tech Village, Bangalore by 2022. The company has already completed development of 4.5 million sqft and will be adding 1.5 million sqft by end of 2018. The investment for the development is pegged at INR 2,000 Cr and will be funded through internal accruals and construction finance.

ATS Group to invest INR 1,500-2,000 Cr to construct mid-segment and affordable homes

  •   March 2018

ATS Group plans to invest INR 1,500-2,000 Cr for construction of mid-segment and affordable homes under an entity -HomeKraft. The investment will be amix of internal accruals, debt and private equity funds.ATS Groupis also in discussion with PE firmsfor raising funds within the next 2-3 months for the HomeKraft venture.

Embassy Group to invest INR 1,350 Cr to develop four new hotels in Bangalore

  •   March 2018

Embassy Group is investing INR 1,350 Cr to develop four new hotels in Bangalore. The investment is likely to be in the construction of dual branded 500 room hotels byHilton in Embassy Tech Village in Outer Ring Road as well as 620-keys twin hotels also by Hilton in Manyata Embassy Business Park in Bangalore North.

IDBI Bank sells its BKC office to SEBI for INR 900 Cr

  •   March 2018

IDBI Bank has sold its office building in Bandra Kurla Complex (BKC), Mumbai to Securities and Exchange Board of India (SEBI). The development has a super-built up area of 321,000 sqft. The deal is valued at INR 900 Cr and is in line with the bank’s strategy to disinvest its holdings in its non-core assets.

Prestige Estates to acquire stake in Sterling Urban Infraprojects for INR 336 Cr

  •   March 2018

Prestige Estates has entered into an agreement to acquire 80% stake in Sterling Urban Infraprojects. Sterling Urban Infraprojects has 59 acres of land in Outer Ring Road in Bangalore. Post stake acquisition, Prestige Estates is likely to develop 6 million sqft of commercial space on the said land parcel.The stake acquisition is pegged at INR 336 Cr.

Blackstone to buy stake in Nitesh Estates’ mall project in Pune for INR 300 Cr

  •   March 2018

Blackstone is buying an 85% stake in Nitesh Estates’ mall project in Pune. The stake acquisition is in Nitesh Hub, a 1 million sqft development and is valued at INR 300 Cr.Blackstonewill acquire the shares held by Goldman Sachs; while the remaining 15% will be held by Nitesh Estates.

IFC to invest INR 150 Crin Ashiana Housing’s residential projects

  •   March 2018

International Finance Corporation (IFC), investment arm of the World Bank, will invest INR 150 Cr on a project to project basis in Ashiana Housing. The investment will bein the ratio of 60:40 between Ashiana Housing and IFC in upcoming affordable and mid-segment residential projects including senior living projects. The investment will primarily be in the form of non-convertible debentures for identified projects with returns linked to project specific returns.

GIC and K Raheja to partner for entering into logistics and warehousing

  •   March 2018

GICand K Raheja Corp is likely to enter into a partnership to build and acquire warehousing parks in India. The joint venture will invest USD 300 million in the initial phase and are looking at land parcels for greenfield developments as well as brownfield acquisitions.

RMZ buys back 45% shares at USD 1 billion from Qatar Investment Authority (QIA) and Baring Private Equity Partners

  •   April 2018

RMZ, India’s leading commercial developer strikes a deal to buy back 45% shares held by Qatar Investment Authority (QIA) and Baring Private Equity Partners at USD 1 billion. The buyback deal will be paid out through bank financing and internal accruals. The transaction valued the company at over $2 billion, though the asset valuation is pegged higher at $4 billion at 7% capitalisation rate.

IFC to invest USD 15 million in WestBridge-backed Aptus Value Housing

  •   April 2018

To increase its reach in affordable housing segment, International Finance Corporation plans to invest USD 15 million (Rs 100 crore) in Aptus Value Housing Finance India Ltd. The investment will be made through senior secured non-convertible debentures (NCDs) with an outlook of seven years. Earlier in 2016, it had invested USD 15 million via NCDs. Aptus offers loans in the range of Rs 5-25 lakh to self-employed people for buying affordable housing units. It has developed unique cash flow and standard of living assessment for customers who lack income documents.

Embassy Industrial Parks to invest USD 1 billion to increase its portfolio to 30 million sqft in the next 3-4 years

  •   May 2018

Embassy Industrial Parks will invest USD 1 billion to increase its portfolio from the current 6-7 million sqft to 30 million sqft in the next 3-4 years. The company plans to add 5-6 million sqft per year to its portfolio. The group intends to buy land and develop its own facilities – 80% of the new additions will be through greenfield developments. The expansions will be funded through a mix of equity - INR 1,600 Cr (USD 250 million) and the remaining in debt.

DLF sells 50,000 sq ft office space in Gurugram for Rs 150 crore

  •   April 2018

DLF, India’s one of the major realty player has sold 48,000 sqft of its 12 lac sqft. prime commercial office building in Gurugram to a major corporate house. The space has been sold at a base selling price of more than Rs. 25,000 per sq ft, totalling at almost Rs. 150 Crores. Prior to this, DLF had sold 40 % stake in DLF Cyber City Developers Ltd (DCCDL) at Rs 12,000 crore.

Ascendas Singbridge and Temasek Holdings to invest USD 300 million in Indian Logistics Sector

  •   June 2018

Ascendas Singbridge, Asia’s leading provider of sustainable urban solutions, has teamed up with Temasek Holdings to invest USD 300 million under Ascendas India Logistics Programme. The programme will be rolled out by Ascendas – Firstspace, a joint venture between Ascendas Singbridge and Firstspace Realty. It aims to develop 13 – 15 million sqft operational facility by investing in projects across the key logistics and warehousing hubs in Mumbai, Delhi- NCR, Pune, Chennai, Bangalore and Ahmedabad.

IndiQube Raises INR 100 Crore Equity

  •   June 2018

IndiQube, leading coworking and dedicated office space solution provider, has raised INR 100 crore of equity from WestBridge Capital. The fund will be used to strengthen IndiQube’s operations and expansion plans. By the end of 2018, the workplace solution provider is planning to add 2 million sqft. space across India.

Embassy Group to raise USD 1 billion through REIT issue

  •   July 2018

Embassy Office Parks – Embassy Group and Blackstone backed entity, plans to raise USD 1 billion through India’s first Real Estate Investment Trust (REIT) issue. The REIT is likely to listed by end of 2018. The proceeds will be utilized to retire its debt. Embassy Group has a portfolio of over 30 million sqft of commercial office space with 22 million sqft is upcoming. The company is in the process of finalising the office developments to be listed under the REIT platform.

Godrej Properties raises INR 1,000 Cr from GIC managed investment firm - Gamnat Pte

  •   July 2018

Godrej Properties has raised INR 1,000 Cr from Gamnat Pte, an investment firm managed by GIC. The fund raising has been through issue of 12.76 million shares on preferential basis at a price of INR 783.50 per share. The capital infusion is at an entity level for a 5% stake and will be utilized to fund the company’s future growth plans.

Leading fund house Piramal commits INR 850 Crore investment in M3M India’s mixed- use project

  •   July 2018

Piramal Enterprise and Piramal Finance have committed Rs 850 crore in M3M India's mixed-use project-65th Avenue. INR 300 crore has already been invested and with this investment Piramal Finance plans to expand branches in Delhi, Gurugram, and Noida.

JP Morgan leases 1.1 million sq ft office space at Embassy TechVillage, Bengaluru

  •   August 2018

Leading financial services firm JP Morgan has committed to lease 1.1 million sqft premium office space in Embassy TechVillage in Bengaluru. Embassy shall develop a 1,100,000 sq. feet built-to-suit facility in phases. Spread over 103 acres, Embassy TechVillage is an integrated LEED platinum-rated business located on the Outer Ring Road.

Ajmera Group to invest INR 250 in Affordable Housing Project

  •   August 2018

Mumbai based real estate developer Ajmera Group plans to invest INR 250 crore in an affordable housing project in North Bangalore. The project will come up with 300 units built over 10.2-acre land parcel and the unit sizes will have with one- and two-bedroom configurations on 400-700 sq ft. The project will mark the developer’s foray into the affordable housing segment.

Co-working player Smartworks plans to raise $30 million for expansion

  •   September 2018

Co-working major Smartworks plans to raise USD 30 million to expand its business over the next two years. The firm intends to scale up its operations adding 60,000 seats acreoss 3 million sqft area. Smartworks currently operates 15 centres covering 1.2 million sqft . It plans to open three centres in Chennai, Bengaluru and Gurugram .

Global fund houses are vying each other to acquire Bengaluru's IBC Knowledge Park

  •   September 2018

Marquee global investors GIC of Singapore, Temasek-owned Mapletree and Blackstone Group, among others, are competing to acquire Bengaluru — IBC Knowledge Park at Rs 2,300 crore. India Builders Corp, or IBC, a leading office space developer in southern India, is selling a 2.2-million-sqft office asset. The knowledge park houses Accenture, IBM, Byju’s and Swiggy as tenants. India’s technology capital Bengaluru is the largest grade-A office market by annual absorption and currently has record low vacancies. The park recorded a net operating income of Rs 170 crore from the fully leased 1.7-million-sqft, while another 0.5-million-sqft development potential is offered as part of the deal.

WeWork India leases 1 lakh sq ft office space in Thane

  •   September 2018

New York based WeWork’s Indian arm has picked up 100,000 sqft space in Hiranandani Estate, Thane. The coworking space operator has picked up an entire commercial building Zenia with 12 floors at INR 60 per sqft. The rental agreement includes a rental asset clause after three years. WeWork had earlier leased a 1.9-lakh sq ft standalone building owned by Enam Securities Group in Bandra-Kurla Complex. It also leased two buildings in Worli and 1 lakh sq ft office space in Navi Mumbai.

CPPIB and RMZ Corp buys L&T property in Bengaluru at INR 640 Crore

  •   September 2018

Canada Pension Plan Investment Board (CPPIB) and commercial real estate player RMZ Corp are together buying an L&T property in Bengaluru for INR 640 crore to develop 2-millionsqft tenanted office space. The newly formed joint venture (JV) plans to develop 8-10 million sqft of leased office assets with an estimated value of around Rs 11,000 crore, or $1.5 billion. Currently RMZ and CPPIB are formalising a deal to acquire 13 acres in north Bengaluru from L&T to start the project.

Keppel-Puravankara Development acquires Metro Cash & Carry India's land for Rs 405 crore in Bengaluru

  •   October 2018

Keppel Puravankara Development Private Limited (KPDL) has acquired a 7.6 acres land from Metro Cash & Carry India in Yeshwantpur, Bangalore for RS 405 crore.KPDL is an associate of Bangalore headquartered and Singapore based Keppel Land, one of Asia’s premier property companies. The acquisition is in line with Puravankara’s overall commercial strategy, for the development of the mixed-use project to expand Puravankara’s commercial presence over the next five year.

Microsoft to occupy 4 lakh sqft. in Salarpuria’s Knowledge City, Hyderabad

  •   October 2018

Microsoft has entered a lease deal with the Salarpuria Sattva group for occupying 400,000 sqft office space in the developer’s upcoming project ‘Knowledge City’ in Hyderabad. Microsoft plans to occupy 2 lakh sqft by next year in the first phase with an option to add another 2 lakh sqft. The project will be operational by next year.

Diageo to sell prime office space in UB Tower to DivyaShree

  •   October 2018

Leading liquor player Diageo, a major stakeholder in United Spirits, plans to sell 30,000 sq ft of prime office space in the iconic UB Tower leading developer DivyaSree Group in Bengaluru.

The deal, pegged at Rs 28,000 per sq ft, will be the highest ever fetched in the city’s office market. As part of the deal, the British alcoholic beverages company will sell and lease back the space to operate its office from the same premises after the transaction.

Shriram Properties group raises Rs 125 crore from LIC Housing Finance

  •   November 2018

Bangalore based Shriram Properties has raised Rs. 125 Crore from non -banking corporation LIC Housing Finance to develop a 2 million sqft. residential project. the project, 'Shriram Greenfield' will be developed in two phases in Whitefield area, Bangalore

Innov8 leases 90,000 sq ft across Mumbai and NCR

  •   November 2018

Innov8, one of the country’s leading coworking operator has leased 90,000 sqft space across Mumbai and NCR to add 1600 seats. Innov8 currently has 13 centers across Delhi/NCR, Chandigarh, Bangalore, and Mumbai, totalling to 8 lakh sq ft.

Alliance & ESR Joint Venture Plans to Invest I billion in Logistics Sector

  •   November 2018

Leading Insurance and Asset Management company Allianz has tied up with e-Shang Redwood (ESR) to jointly invest about USD1 billion in India's growing Logistics and Warehousing sector. The company will develop Grade A warehouses in the top eight cities of the country- Mumbai, Pune, Chennai, Bangalore, Hyderabad, Ahmedabad, Kolkata and NCR.

Google occupies 1 Lac sqft. office space in Bandra-Kurla Complex(BKC), Mumbai

  •   December 2018

Global search engine giant Google has occupied 1 lac sqft office space in First International Financial Centre (FIFC) in Mumbai’s Bandra- Kurla Complex. The IT major has signed a long -term lease for the office space spread over two floors in FIFC at a monthly rental of INR 275 per sqft. Partly owned by Equity player Blackstone Group, FIFC also houses companies like Citigroup, McKinsey and Oracle among others.

Incubex Nestavera plans to invest Rs 100 crore over the next two years

  •   December 2018

Coworking space operator, Incubex Nestavera plans to invest Rs 100 crore over the next two years to expand its operations and launch new products. The company plans to touch 1 million sq ft of co-working space over the next 18 months. The firm will use the money to expand its presence in Bengaluru, Hyderabad, Pune and Mumbai.

FSI for Commercial Buildings increased in Chennai

  •   December 2018

FSI for commercial buildings increased from 1.5 to 2.0 in Chennai, subsequently resulting in significant jump in the FSI of commercial properties on 60 feet road from 2.8 to 4.87 including the premium FSI, given that it adheres to the other development regulations of the Chennai Metropolitan Development Authority (CMDA).

Karnataka Metro Route Changes to go through Hebbal, & Jakkur

  •   January 2019

The Karnataka state cabinet has approved a change in the metro route connecting East Bengaluru with the city’s airport at an additional cost Rs.5,000 crore. The metro route from Nagawara will now go through Hebbal and Jakkur covering approximately 9km more, taking the total length to 38km.

Blackstone Group and Xander eye 4.4 million sq ft Tech Park in Bangalore

  •   January 2019

Private equity giant Blackstone Group is eyeing to invest in a 4.4-million-sq ft tenanted office park in Bengaluru in a deal estimated to be valued around INR 2,200 crore. Another US-based investor Xander has also initiated discussions for a potential buyout of the park owned by Tanglin Developments, a Coffee Day company.( Source : ET)

iKEVA to open 15 co-working centres

  •   January 2019

Coworking office player iKEVA is planning to open 15 new centres with its fresh funding received from Meenakshi Group.iKeva has eight centres across five major metro cities - Bengaluru, Chennai, Gurgaon, Hyderabad and Mumbai. Two new centres are set to open in Hyderabad in the next three months.(Source:ET)

Awfisopens 15,000 sqft coworking facility in Zirakpur, Chandigarh

  •   January 2019

Awfis, the coworking space enabler has opened a 15,000 sqft facility in Zirakpur, Chandigarh with a seating capacity of 300. The coworking office space player is all set to open its centres in Ahmedabad, Jaipur, Chennai, Hyderabad, Indore, Bhubaneshwar in the coming year.(Source:ET)

KKR’s NBFC arm invests INR 725 Crore in Embassy Group’s commercial project

  •   February 2019

KKR India Asset Finance Limited ( KIAFL) has invested INR 725 Crore in a premium office park developed by Embassy Group. The REIT, registered in 2017 as Embassy Office Parks, is sponsored by Blackstone and Bengaluru-based realty developer Embassy Property Developments.The proposed over Rs 5,000-crore REIT, will be India’s maiden REIT issue. Embassy Office Parks is listing 33 million sq ft office real estate portfolio under the REIT. Of this, an area of 24 million sq. ft. has been completed and has 95% occupancy. The remainder is under construction.( Source ET)

Piramal, Ivanhoe Cambridge residential equity invests Rs 500 crore in Palava

  •   February 2019

Piramal Enterprises and Ivanhoé Cambridge, a realty subsidiary of Canada-based CDPQ (Caisse de Dépôt et Placement du Québec), have made an equity investment of Rs 500 crore in Lodha Group’s township Palava in the Mumbai Metropolitan Region. The investment has been made through the Piramal Ivanhoe Residential Equity Fund. ( Source: ET)

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