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

Adobe Leases 158,000 Sq Ft Office at Max Square, Noida

NEW DELHI: Adobe has secured a lease for approximately 158,000 sq ft of office space at Max Square, a commercial project by Max Estates in Noida. This lease represents one of the most significant office transactions in Noida in recent months, highlighting Adobe’s expansion into the National Capital Region. The company has commenced operations at the new facility located in sector 129 along the Noida-Greater Noida Expressway, employing over 700 people in engineering and customer support roles. This marks Adobe’s seventh office in India and its third in Uttar Pradesh. The company currently employs more than 8,000 individuals in India,…

CommercialLatest Stories

Bagmane Prime REIT IPO Oversubscribed 23.71 Times

NEW DELHI: The initial public offering (IPO) of Bagmane Prime Office REIT, backed by Blackstone, was subscribed 23.71 times by the end of the bidding period on Thursday, demonstrating strong investor interest. The IPO, valued at Rs 3,405 crore, received bids for 3,50,77,38,150 units against 14,79,21,000 units available, according to NSE data. The institutional investor category saw a subscription rate of 25.25 times, while retail investors submitted bids 21.87 times the available quota. More than 200,000 applications were recorded for the offer, surpassing previous REITs such as Knowledge Realty Trust, Nexus Select Trust, Mindspace Business Parks REIT, Brookfield India REIT,…

CommercialLatest Stories

Awfis Leases 114K Sq Ft in Chennai; TEC Opens 9,500 Sq M in Riyadh

Here’s the rewritten content: Representative image NEW DELHI: Awfis Space Solutions, a provider of flexible workspace solutions, has opened two new centers in Chennai. The Olympia Crystal center in Guindy covers approximately 56,360 sq ft across four floors, while the DLF Cyber City center offers a chargeable area of 57,802 sq ft. These new locations expand the company’s total presence in Chennai to 28 centers, totaling around 875,000 sq ft. Awfis now operates over 200 centers in 18 cities. In another update, The Executive Centre (TEC) has announced the launch of a new center in the King Abdullah Financial District…

CommercialLatest Stories

Karnataka Reopens Tender for Mangaluru IT Park After No Bids

MANGALURU: The state government has reopened bidding for its proposed IT Park in Mangaluru for the second time in five months. The initial round attracted no bidders, raising concerns over the Rs 135-crore project intended for public land. The IT Park is planned on 3.2 acres near Blueberry Hills Road in Derebail as part of the state’s ‘Beyond Bengaluru’ initiative. The tender is being managed by the Karnataka State Electronics Development Corporation (KEONICS). Initially opened on December 15 and closed a month later without interest, the second round of bidding is currently ongoing and will conclude on May 22. Reports…

CommercialLatest Stories

Ahmedabad Civic Body Gets ₹365.8 Crore from Bodakdev Auctions

Representative AI image AHMEDABAD: The Ahmedabad Municipal Corporation (AMC) recently auctioned two commercial plots in Bodakdev for a total of Rs 365.8 crore. The AMC had previously announced the online auction of 19 residential and commercial plots. However, only five plots located in Bodakdev, Thaltej, Motera, and Shilaj were auctioned on Tuesday, with the latter three attracting no bids. Final Plot No. 353/Part 1 from TP Scheme 50, covering 8,167 sq m, sold for Rs 2.52 lakh per sq m, slightly above its base price, resulting in a total sale of Rs 205.9 crore, just above its upset price of…

CommercialLatest Stories

McKinsey Renews 35,520 Sq Ft Lease in Mumbai’s BKC

Global consulting firm McKinsey & Company has renewed its lease for a Mumbai office spanning four floors in Bandra Kurla Complex (BKC). This move underscores the persistent demand for Grade A office space in India’s most expensive commercial market. The agreement, finalized through three separate contracts, features rentals up to Rs 759 per sq ft per month, marking it as one of the highest office lease rates in the country. The lease, effective from October 1, 2026, encompasses the ground, first, second, and ninth floors at Maker Maxity-1 North Avenue in BKC. The 10-year agreement highlights global landlords’ long-term commitment…

CommercialLatest Stories

WeWork Expands by 110K Sq Ft in Delhi; Nukleus Leases 75K in Noida

NEW DELHI: WeWork India Management has expanded its flexible workspace offerings in Delhi-NCR with the launch of a new center at Worldmark 6 in Aerocity, adding 110,000 sq ft to its capacity. The facility, situated on the third floor of the commercial complex, can accommodate over 1,400 desks. This expansion reinforces the company’s presence in key business districts. The company now operates in eight cities, totaling over 121,000 desks. In a related update, Nukleus Office Solutions announced it has signed letters of intent (LOIs) for leasing approximately 75,000 sq ft of office space at Okaya Centre, Sector 62, Noida, including…

CommercialLatest Stories

Mindspace REIT Secures ₹500 Crore with 10-Year NCDs at 7.63%

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has successfully raised ₹500 crore via a 10-year non-convertible debenture (NCD), according to a company announcement. The issuance was fully subscribed by a domestic life insurance company and features a fixed coupon of 7.63% per annum, with payments made quarterly. CRISIL and ICRA have rated the debentures as AAA/Stable. The funds raised will be allocated for refinancing existing debts, as the office REIT aims to extend its debt maturity profile and enhance the proportion of fixed-rate borrowings. Including this transaction, the company (along with its special purpose vehicles) has raised a total…

CommercialLatest Stories

Bagmane Prime Office REIT IPO 71% Subscribed on Day 1

NEW DELHI: The IPO of Bagmane Prime Office REIT, backed by Blackstone, saw a 71% subscription on its first day of bidding on Tuesday. According to NSE data, bids were received for 10,55,39,250 units against 14,79,21,000 units on offer. The subscription rate for the category of other investors was 74%, while institutional investors subscribed at 69%. Furthermore, Bagmane Prime Office REIT has raised approximately ₹1,150 crore from anchor investors. The ₹3,405-crore public issue will close on May 7. The price band for the Bengaluru-based real estate investment trust (REIT) is set between ₹95-100 per unit. The IPO includes a fresh…

CommercialLatest Stories

Bagmane Prime Office REIT secures ₹1,150 crore from anchors

NEW DELHI: Bagmane Prime Office REIT, backed by Blackstone, has raised approximately ₹1,150 crore from anchor investors as its Initial Public Offering (IPO) opens for subscription today, with a total issue size of ₹3,405 crore concluding on May 7. The anchor book attracted a diverse array of institutional investors, including NPS Trust (through SBI Pension Fund schemes for central and state governments), WhiteOak Capital funds, SBI Life Insurance, Quant Mutual Fund, UTI MF, Kotak MF, Nippon India MF, Edelweiss MF, and JM Financial MF, based on a circular posted on BSE’s website. Additionally, global and domestic investors such as Societe…