Embassy REIT Leases 2.07 Lakh Sq Ft to Cybersecurity Firm Rubrik at Embassy TechVillage
- Industry News
- January 15, 2025
Prime office rents in the Asia-Pacific region saw a 3.1% decline in Q2 2024, driven by a sharp drop in Chinese cities. Conversely, India experienced a surge in office leasing, with significant growth in Bengaluru and Mumbai. Australia’s market grew, while Southeast Asia and New Zealand had mixed results.
READ MOREIncuspaze partners with Bhutani Infra to lease 4 lakh sq ft in Noida’s Alphathum, marking a significant expansion in North India. Facilitated by Colliers, this move reinforces Incuspaze’s commitment to providing top-tier flexible workspaces across the region.
READ MOREAI and robotics firms led office space absorption in Bengaluru in Q2 2024, contributing 21% to the city’s total. The IT-ITeS sector dominated with 69% overall absorption. Nationwide, office space demand surged, driven by strong economic performance. New completions rose significantly, particularly in Mumbai and Bengaluru.
READ MOREAmitabh Bachchan has acquired three office units worth Rs 59.58 crore in Mumbai’s Signature Building, Andheri, totalling 8,429 sq ft and including three parking spaces. Additionally, he invested Rs 14.5 crore in a 10,000 sq ft plot at The Sarayu, a luxury enclave in Ayodhya.
READ MOREDeloitte leases 175,000 sq ft in Prestige Trade Tower at Delhi’s Aerocity, marking Prestige Group’s commercial debut in the capital. This move reflects a strong demand for premium office spaces near the airport. The project includes hotel rooms, office spaces, and a convention centre set to boost Aerocity’s business landscape.
READ MOREJSW Infrastructure invests INR 88 crore to lease 52,690 sq ft of office space in Navi Mumbai’s L&T Seawoods Grand Central complex. This move aligns with the growing trend of leasing for flexibility and supports the company’s expansion amid revenue growth. The acquisition will be finalised by Q3 of this financial year.
READ MOREJalandhar’s Commissioner of Police, Swapan Sharma, has mandated police no-objection certificates (NOC) for new malls, offices, and commercial establishments to tackle traffic and parking issues. This initiative ensures adequate parking and reduces congestion, requiring detailed site plans and application parking layouts.
READ MOREmyHQ by ANAROCK has partnered with WeWork India to be the exclusive tech, marketing, and sales partner for WeWork’s on-demand products. This collaboration aims to enhance flexible workspace options and targets growth from 30,000 to 100,000 monthly bookings by 2024-25. The partnership aims to cater to India’s growing freelance and gig workforce.
READ MORESEBI’s new regulations for Small and Medium REITs (SMREITs) democratise real estate investments for retail investors, unlocking significant monetisation opportunities and enhancing liquidity. Platforms like Strata and Propshare are transitioning to SMREITs; offering stabilised returns and transparency.
READ MORE