Category: Commercial

Stay updated with the latest developments in commercial real estate. Our coverage includes market trends, leasing activity, office space demand, retail property updates, and major commercial deals. Whether you’re an investor, developer, or tenant, get expert insights and news on the evolving commercial property landscape.

CommercialLatest Stories

HSBC Signs LOI for 1.2M Sq Ft Campus with Prestige Group

NEW DELHI: HSBC has entered into a letter of intent with Prestige Group to create a 1.2 million sq ft integrated campus on Outer Ring Road in Bengaluru. The venue, named Prestige JRC Signature Towers, aims to consolidate HSBC employees from various locations in Bengaluru into one facility. The new campus will feature collaboration areas, shared amenities, dining options, multi-functional spaces for town halls and learning, outdoor and community areas, as well as metro access and parking facilities. “India is one of the most significant talent hubs globally and remains a vital market for HSBC. Uniting our workforce under one…

CommercialLatest Stories

TEC Leases 19K sq ft to Forescout; WeWork Adds 536 Desks in Hyderabad

Sure! Here’s a rewritten version of the content you provided: NEW DELHI: The Executive Centre (TEC) has secured a lease for approximately 19,000 sq ft of office space at its location in Panchshil Business Park, Balewadi, Pune, for Forescout Technologies. This space is designed to accommodate around 200 workstations. Forescout has been a client of TEC since 2022, initially starting in a 50-seat workspace. The newly expanded office features a dedicated reception area, multiple meeting rooms, private cabins, a training room, open workstations, collaborative zones, and a town hall area. In a separate development, WeWork India Management has signed an…

CommercialLatest Stories

Delhi Builder Abandons Decades-Long Commercial Project

Representative AI image NEW DELHI: After more than thirty years of failing to construct and deliver promised commercial units in Plaza-4 of the Central Square Complex at Bara Hindu Rao, the builder has notified Delhi RERA that it is unable to complete the project and has effectively “abandoned” it due to a lack of sanctioned building plans. According to a Delhi RERA order dated May 12, recently uploaded to its website, the attorney for Purearth Infrastructure Ltd stated this during a hearing involving complaints from three buyers. The builder’s counsel indicated their willingness to refund allottees as per the RERA…

CommercialLatest Stories

Gujarat to reclaim Infocity land, lease ends in 2030

GANDHINAGAR: The Gujarat government has chosen not to extend the lease of Creative Infocity Ltd, the developer behind the state’s key Infocity project in Gandhinagar. This decision paves the way for the government to regain control of the extensive 116-acre campus once the concession period concludes in 2030. This decision, made at the highest levels of state government, follows a prolonged dispute between the government and the developer over alleged breaches of the concession and lease agreements. While the 30-year lease is set to expire in July 2030, the Department of Science and Technology has begun steps to reclaim the…

CommercialLatest Stories

TGSRTC Offers 694 Commercial Leases Across Telangana

HYDERABAD: The Telangana State Road Transport Corporation (TSRTC) is taking a significant step to broaden its revenue sources by leasing out 694 vacant commercial spaces statewide. This initiative represents one of the corporation’s largest efforts in commercial monetization in recent years. The vacant shops and commercial complexes situated at bus stations, depots, and transport hubs will be allocated through a transparent tender process. Information about all available commercial spaces has been made accessible on the corporation’s official website. TSRTC Managing Director Y. Nagi Reddy stated, “With millions of commuters passing through RTC bus stations daily, we believe our commercial properties…

CommercialLatest Stories

Odisha: New IT Park to Open in Damana

BHUBANESWAR: The state government has unveiled plans to create a large, integrated IT park near Damana Square, adjacent to the Jaydev Vihar-Nandankanan Road. This initiative aims to be a major contributor to the state’s digital economy and job creation. The IT park will be developed by the Electronics and Information Technology Department and is set to become a forward-thinking technology hub, enhancing Odisha’s standing as a developing destination for IT and IT-enabled services (ITES), according to officials. As stated in the expression of interest (EOI) released by the Odisha Computer Application Centre (OCAC), the project will engage the private sector…

CommercialLatest Stories

Incuspaze Secures ₹150 Crore for FY29 IPO Expansion

NEW DELHI: Flexible workspace provider Incuspaze has secured Rs 150 crore in a funding round led by Bharat Value Fund along with various financial institutions. This funding will enhance its foothold in key commercial markets, accelerate technological advancements, and facilitate acquisitions as the company prepares for a public listing planned for FY29. This latest capital infusion follows the company’s initial funding in July 2024, where it raised $8 million (Rs 67 crore) through the India Inflection Opportunity Fund. “This infusion of capital will help us expedite our growth plans, deepen our market presence in strategic areas such as Hyderabad, invest…

CommercialLatest Stories

Embassy to Invest ₹1,500 Crore in 3M Sq Ft Office Space in Bengaluru

NEW DELHI: Embassy Developments is set to invest ₹1,500 crore in the construction of a 3 million sq ft office complex in Bengaluru, aligning with its aim to diversify income streams from commercial properties. The firm primarily operates in the housing sector, with a notable presence in Bengaluru, the Mumbai Metropolitan Region (MMR), and Delhi-NCR. In an interview with PTI, Managing Director Aditya Virwani emphasized that while the residential business remains a priority, the company plans to develop office spaces to generate rental income. Virwani noted that a significant 35-acre office complex will be built in Bengaluru, totaling 6 million…

CommercialLatest Stories

Hero MotoCorp, WeWork Lease 3.45 Lakh Sq Ft in Delhi’s Worldmark 6

Representative AI image NEW DELHI: Hero MotoCorp and WeWork India Management have signed leases for approximately 345,000 sq. ft. of office space at Worldmark 6 in Aerocity, Delhi, sourced from Alborz Developers, as noted in Propstack documents. The total estimated rental expenditure over the lease duration is around ₹922 crore. Hero MotoCorp will occupy 231,109 sq. ft. across the ground, second, fifth, and sixth floors of Worldmark 6 with a nine-year lease beginning March 1, 2026. The monthly rent is set at about ₹4.97 crore, calculated at ₹215 per sq. ft. per month, totaling approximately ₹593.8 crore for the lease…

CommercialLatest Stories

Smartworks to Acquire Singapore’s Workstudio Spaces

NEW DELHI: Smartworks Coworking Spaces is set to acquire Singapore-based flexible workspace provider Workstudio Spaces via its wholly-owned subsidiary, Smartworks Space. This transaction is anticipated to finalize in July 2026, post which Workstudio will function as a step-down subsidiary of Smartworks. Workstudio Spaces operates an area of around 26,000 sq ft in Singapore, with established occupancy levels. The acquisition will be executed through a cash transaction, where Smartworks’ subsidiary will gain full ownership of Workstudio. The final cost is still being negotiated and will depend on the closure of transaction documents. Funding for this acquisition will come from resources within…