Bidya Sapam

Co-working boom in India may trigger consolidation, wipe out smaller firms

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.


India: Mitsubishi to invest $25m in Shriram Properties’ residential project

The Mitsubishi arm will pick up 70% stake in the housing project by investing around Rs 180 crore.


Xander’s retail arm close to buying Mumbai mall for $325m

The proposed 1 million sq ft mall in Mumbai’s Andheri East will be developed by Omkar Realtors and Developers Ltd


Singapore’s GIC buys significant minority stake in Provenance Land

GIC has bought over 40% stake in Provenance Land and the size of the transaction is estimated to be around Rs 1,000 crore.


India: Shopping malls emerge as favourite destination for shared offices

Co-work space players Awfis, The Hive and SmartWorks are eyeing shopping complexes to open shared offices.


Warburg Pincus-backed ESR close to buying land in Mumbai, Pune for $29m

ESR is conducting the final due diligence to buy nearly 100 acres in Bhiwandi from Supreme Infrastructure.


Uncertainty looms over Chinese property developers’ India investment plans

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.


India: Phoenix Mills acquires Indore mall for $35m

Earlier this month, the company announced the acquisition of an under-construction mall in Lucknow for $66 million.


Bloom Hotel wins bid for Delhi’s Janpath hotel

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.


Piramal Capital offers $30m structured equity to Appaswamy Group for land deals

Developers in India are increasingly relying on non-banking financial companies (NBFCs) and private equity investors to fund their real estate projects.