Sector: Real Estate
Blackstone to sell $400 mn stake in REIT Embassy, ADIA eyes investment
Blackstone will sell a stake worth up to $400 million in Embassy Office Parks REIT, the country’s biggest real estate investment trust, via stock exchange block deals, three sources familiar with the matter told Reuters. Abu Dhabi’s sovereign wealth fund, one of the world’s largest, is likely to pick up at least half of the … Read more
‘Story of Noida twin towers’: What led to demolition of Supertech buildings
The Supertech Twin Towers in Noida, also deemed as the India’s tallest building Noida Twin Towers, will be demolished on 28 August, Sunday following a directive from the Supreme Court of India. The final check-up of explosives and related arrangements for the demolition of the Noida twin towers are underway on Saturday, the project officials … Read more
Arvind SmarSpaces and HDFC RE Fund partner for residential development.
Arvind SmartSpaces Limited (ASL) and HDFC Capital Advisors (HDFC) have partnered to create a separate platform for the residential development. Key points to note – Subject platform will be a 100% subsidiary of ASL. Total fund infusion is envisaged at Rs 900 crore in multiple tranches as and when required Rs 300 crore from ASL … Read more
Raymond makes an important hiring
As was promised in November 2021, Raymond has taken an important step towards professionalising the management. It has appointed Atul Singh, former head of Coca-Cola India, as the Executive Vice Chairman. Atul worked with Coca-Cola for about two decades at several leadership positions and was last with them as Chairman, Asia Pacific. Prior to joining Coca-Cola, … Read more
MahaRERA further tightens norms for developers
In a move to bring a higher degree of transparency, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued instructions making it mandatory for developers to share updates on ongoing projects online on a quarterly and yearly basis besides other requirements. This move is expected to help homebuyers to track the progress of their real … Read more
DHFL-Yes Bank case: CBI searches premises of prominent realtors in Mumbai, Pune
The CBI on Saturday began searches at the premises of some prominent builders, including Ashwini Bhonsale, Shahid Balwa and Vinod Goenka, at eight locations in Mumbai and Pune in connection with the DHFL-Yes Bank corruption case, officials said. The CBI suspects that their companies were used to channel alleged illicit money in the Yes Bank-DHFL … Read more
Why FY 23 Is Poised To Be A Promising Year For The Indian Housing Market. Experts Explain
Indian real estate ended the last fiscal at a very strong footing, registering one of the highest growths in recent times. As per Knight and Frank’s report, in Q4 FY 22, the eight major cities in India posted a total sales of ~ 78,600 units, the highest in the last 4 years. The quarterly sales … Read more