Blackstone has bought A Wing and some part of B Wing of the building, which has three wings with a total area of 1.5 million square feet.
50% of south-central Mumbai's high-end apartments remain unsold. The reasons include rocketing prices and a demand-supply mismatch. Of the unsold stock in south-central Mumbai, 38 per cent comprise units sized above 2,000 sq ft carpet area - too high for even wealthy Mumbaikars.
Durable, automobile and real estate players have been lobbying hard for a tax cut, saying it will boost demand.
Both partners would inject $200 million each in the form of equity and hold 50 per cent stake each. They plan to raise another $600 million in the form of debt to create a corpus of $1 billion to develop malls across tier-I, II and III cities.
Swanky flats, mall to replace the iconic property.
Big conglomerates of Japan, including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui Group, are looking to both build and buy commercial properties in key Indian cities.
Noel Tata likes to relax at his Alibaug beach home on weekends, but he is equally passionate about driving on the Mumbai-Pune Expressway at a speed of over 100 kilometres per hour.
Many developers are facing financial challenges after the IL&FS defaults, after which non-banking finance companies - the major financiers to real estate firms - slowed disbursals.
The total wealth of top 100 real estate barons accounted for Rs 2.37 trillion ($32.7 billion) in 2018, up 27 per cent against 2017's cumulative wealth of Rs 1.87 trillion ($28.6 billion).
Amazon has also signed a term sheet with Kishore Biyani-led Future group to invest $600 million to $700 million for a 12 to 15 per cent stake in the retail giant, it is learnt.
'Unlike Big Bazaar, where the promoter calls the shot, in ABRL, professionals take decisions. So, every new CEO leads to a change in strategy, which confuses vendors and the team.'
Around 576,000 housing units, worth Rs 4.64 trillion, are delayed in seven major cities of the country
Shoppers Stop plans to open five or six department stores and 10-12 beauty stores this year
At least 50,000 units of new residential property are set to come up over the next three years
Shapoorji, Kalpataru, Godrej pursuing Rs 60,000 crore opportunity in the region
Retailers, especially food and grocery chains, are clearly unhappy, saying the ban is impractical
Chinese companies who were actively pursuing business opportunities in India have adopted a wait and watch approach following the Chinese government clampdown.
7.8 million square feet of mall space is under construction this year, the highest ever since 2011.
GIC entered Indian real estate in 2005, when it did a deal with residential developer XS Real, a Chennai-based developer
Online retail in the country is expected to grow to $200 billion by 2026, up from $15 billion in 2016.
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