Search Results for:Madhurima Nandy
Besides Chennai, the joint venture is looking at Mumbai, NCR, Pune, Bengaluru and Ahmedabad, and aims to develop a portfolio of 15 million sq. ft.
In November, Indiabulls had said that it was selling a stake in two Gurugram office projects, but had not disclosed the investor’s name.
LDL is selling its equity interest in the two UK assets for about Rs4,200 crores – this will bring significant cash into LDL and strengthen its balance sheet.
Collaboration among developers is the only way to survive in the current scenario, as the sector inches towards consolidation.
It has backed projects of Assetz Property Group and a plotted development project of Century Real Estate Holdings Pvt. Ltd.
HNIs are not only buying office space in large commercial complexes directly from developers. They are also investing through fund houses, which buy rental assets, and are eyeing REITs that are expected to make such investments secure and yield better returns.
The project has a development potential of 20 million sq. ft of warehousing and industrial space.
Prestige had signed a term sheet with GIC in February to sell a 40% stake in a clutch of office projects for about Rs 2,000 crore.
Piramal’s interest comes at a time when many listed NBFCs have lost significant market value on growing concerns around asset-liability mismatches.
NBFCs slowing down will have a rippling effect on funding of projects. We are likely to see defaults and delays in repayments. Asset takeovers and workouts are imminent, so the industry should be prepared, he says.