Clarivate leases 170,000 sq ft of space at Embassy Oxygen office park
Real Estate

Clarivate leases 170,000 sq ft of space at Embassy Oxygen office park

Data intelligence firm Clarivate has leased 170,000 sq ft of space at Embassy Oxygen office park in Noida, said two people aware of the development. Global companies have been expanding office presence in India, leading to an increase in leasing activity.

Recently, NYSE-listed Ciena, a global leader in networking systems, services and software, leased 135,000 sq ft of office space at Gurgaon’s TRIL tower by Tata realty.

Embassy REIT, which owns and operates a 51.1 million square feet portfolio of 14 office parks, leased 2.1 million sq ft of space across 24 deals during the July-September quarter.

Global capability centres (GCCs) accounted for about half the leasing activity during the quarter, with Bengaluru leading the demand, contributing to 77% of the total quarterly leasing activity.In the National Capital Region (NCR), the information technology-business process management sector led the quarterly demand with a 29% share, followed by flexible workspaces with a 15% share.

In terms of net absorption, NCR recorded 1.8 million sq ft during the September quarter, witnessing 24% growth on quarter-on-quarter basis and 50% growth in year-n-year terms.At a submarket level, Gurgaon continued to lead demand within NCR, securing a 77% share in demand mostly in prime submarkets such as Golf Course Road Extension, Cybercity and NH 8 Prime. Noida Expressway contributed 14% to the overall guideline value in NCR during the quarter. Guideline value is the minimum value a property can be registered for, as specified by the government.During the September quarter, Delhi-NCR saw rents increase 2-7% quarter-on-quarter. The rentals are expected to remain range-bound for the rest of the year, according to experts.

Data intelligence firm Clarivate has leased 170,000 sq ft of space at Embassy Oxygen office park in Noida, said two people aware of the development. Global companies have been expanding office presence in India, leading to an increase in leasing activity. Recently, NYSE-listed Ciena, a global leader in networking systems, services and software, leased 135,000 sq ft of office space at Gurgaon’s TRIL tower by Tata realty. Embassy REIT, which owns and operates a 51.1 million square feet portfolio of 14 office parks, leased 2.1 million sq ft of space across 24 deals during the July-September quarter. Global capability centres (GCCs) accounted for about half the leasing activity during the quarter, with Bengaluru leading the demand, contributing to 77% of the total quarterly leasing activity.In the National Capital Region (NCR), the information technology-business process management sector led the quarterly demand with a 29% share, followed by flexible workspaces with a 15% share. In terms of net absorption, NCR recorded 1.8 million sq ft during the September quarter, witnessing 24% growth on quarter-on-quarter basis and 50% growth in year-n-year terms.At a submarket level, Gurgaon continued to lead demand within NCR, securing a 77% share in demand mostly in prime submarkets such as Golf Course Road Extension, Cybercity and NH 8 Prime. Noida Expressway contributed 14% to the overall guideline value in NCR during the quarter. Guideline value is the minimum value a property can be registered for, as specified by the government.During the September quarter, Delhi-NCR saw rents increase 2-7% quarter-on-quarter. The rentals are expected to remain range-bound for the rest of the year, according to experts.

Next Story
Infrastructure Energy

Centre suggests states to list power firms

Power Minister Manohar Lal urged states and union territories to consider listing their power generation, transmission, and distribution companies on stock exchanges to attract investment and improve operational efficiency. Addressing the media, after a conference of power ministers, Lal highlighted the need for increased capital inflows to meet India’s rising power demand, which has placed added strain on the sector. “With the growing power demand, there is a growing need for investment in the sector and improving operational efficiencies. States may identify and take up utilities for lis..

Next Story
Infrastructure Transport

Metro on backburner as Tricity set to get new e-buses circuit

To boost connectivity for the commuters of the Tricity, a new circuit-cum-network of electric buses (e-buses) is all set to come up that will cover Chandigarh, Panchkula, and Mohali. The move comes days after Union Minister for Housing and Urban Affairs Manohar Lal Khattar said that in Chandigarh the ridership is not according to the criteria set for operating a Metro. He had also said that the option of a pod taxi can also be explored as it will not impact the heritage of the Union Territory (UT).Officials stated that the e-buses decision intends to provide an eco-friendly public transportati..

Next Story
Infrastructure Energy

Rajasthan government plans to develop hi-tech city near Jaipur

On the lines of Gujarat International Finance Tech (GIFT) City and Hyderabad Information Technology and Engineering Consultancy (HITEC) City, Raj govt is gearing up to develop a "hi-tech city" close to Jaipur. Recently, Boston Consulting Group – a multinational consulting firm – gave a presentation on the concept of hi-tech cities, follwing which the state govt has started looking for suitable land on outskirts of Jaipur. "We are going to construct a hi-tech city on the outskirts of Jaipur. We are trying to ascertain the amount of land required for core areas of the city and for areas wh..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000