RMZ Corp and CPP Investments announced that they have entered into a joint venture to develop and hold commercial office space in Chennai and Hyderabad
Amid the Covid-19 crisis, Hyderabad emerged as the most resilient city in India by adding 3.7 million square feet (sft) of office supply to its stable between January and June
The annual commercial leasing in 2020 is expected to clock 24-25 million sq ft across major Indian metro cities which is 30 percent higher than the global financial crisis, a report has said
The office in Chennai will come up in the Brigade World Trade Centre; in Mumbai it has signed a long-term lease agreement for space at Godrej Two and in Bengaluru with Bagmane Rio
Tata Realty has around six million sq ft of office space ready and leased and another one million sq ft is under construction and will be ready by November in Gurgaon.
Apple’s new Bengaluru office is expected to come up at Prestige Mink Square; whereas Wells Fargo is in discussion for a built-to-suit office space in Hyderabad with DivyaSree developers.
Most tenants, especially middle-rung companies, are seeking waivers and deferment of rental payments to tide over the impact of the public health crisis that forced a 68-day national lockdown till May 31 with some restrictions remaining to date.
In the largest commercial space transaction this year, Morgan Stanley has picked up around 1.1 million sq ft office space at Oberoi Realty’s under-construction commercial tower, Commerz III in Goregaon, Mumbai.
