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Government Panel Urges Resumption of Work on Noida Sports City After Two-Year Hiatus
The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com
Awfis Expands Presence in GIFT City
Awfis has announced the leasing of a 30,221 sq ft co-working center in Gujarat International Finance Tec-City (GIFT City), located in Gandhinagar. This strategic move enhances Awfis’s footprint in Ahmedabad, bringing its total built-up area in the city to approximately 83,500 sq ft. Amit Ramani, the chairman and managing director of Awfis, emphasized the company's ambitious expansion strategy. Awfis plans to add 40,000 new seats in the fiscal year 2025, aiming to reach a total capacity of 135,000 seats by the end of that period. This significant growth reflects the increasing demand for fle..
Domestic Firms Driving Indian Office Market Growth
The Indian office market is undergoing a significant transformation, with domestic companies projected to lease 60-65 million square feet of office space between 2024 and 2025, as reported by CBRE. This shift marks a departure from the historical reliance on global corporations, particularly those from the United States. Over the past two years, domestic firms have seen a remarkable 60% increase in office space absorption compared to the pre-pandemic period (2018-2019). They now account for nearly 47% of overall office leasing activity, with Delhi-NCR leading, followed by Bengaluru and Mumbai..
L&G Sells CALA Group for £1.35 Billion
Legal & General (L&G) has sold its UK housebuilder, CALA Group, for £1.35 billion ($1.78 billion) to an acquisition vehicle led by U.S. firm Sixth Street Partners. This sale aligns with L&G's strategy to streamline its portfolio and concentrate on core businesses. The transaction will provide L&G with £1.16 billion in cash, with £500 million paid at closing and the rest deferred over five years. The deal, expected to complete in Q4, reflects the shifting dynamics of the UK housing market, where annual house price growth has slowed. L&G shares have faced a decline, trading 2.9% lower amid a..
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