Co-working spaces in India are becoming crowded with at least 350 operators vying for clients, leading to fears that a consolidation will lead to the shuttering of many companies.
The Mitsubishi arm will pick up 70% stake in the housing project by investing around Rs 180 crore.
The proposed 1 million sq ft mall in Mumbai’s Andheri East will be developed by Omkar Realtors and Developers Ltd
GIC has bought over 40% stake in Provenance Land and the size of the transaction is estimated to be around Rs 1,000 crore.
Co-work space players Awfis, The Hive and SmartWorks are eyeing shopping complexes to open shared offices.
ESR is conducting the final due diligence to buy nearly 100 acres in Bhiwandi from Supreme Infrastructure.
Property consultants said the inability to find large projects and challenges of dealing with local bodies have delayed their plans. Besides, the Chinese government recently curbed outbound investments in sectors like real estate.
Earlier this month, the company announced the acquisition of an under-construction mall in Lucknow for $66 million.
Delhi-based Bloom outbid Tata Group firm Indian Hotels Co. Ltd (IHCL) and Byke Hotels and Resorts to acquire the 38-room property, which is also called Hotel Asian International.
Developers in India are increasingly relying on non-banking financial companies (NBFCs) and private equity investors to fund their real estate projects.