Media Sector Driving London’s West End Office Market

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Take-up for office space in London’s West End rose sharply in Q2 2011, with the media sector driving the market, according to Cushman & Wakefield. Media companies accounted for 45% of deals signed with the 165,000 sq.ft letting to Google at Central Saint Giles - where C&W is leasing agent – being the largest across, not only the West End, but London as a whole.

Market Beat - Retail Report

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India's GDP growth rate observed a downtrend as inflation and poor performance by manufacturing and several other sectors pulled down the economic growth during the fourth quarter of FY 2010-2011. The Central Statistics Office, Ministry of Statistics and Programme Implementation has estimated the GDP growth rate of India, for 2010- 2011, to be at 8.5% as against the initial projection of 8.6%. The revised rate is the result of the lower than anticipated performance of primary sectors contributing to the GDP. During the year, while agriculture has witnessed growth at 6.6%, the manufacturing sector registered 8.3% growth and the services sector recorded approximately 9.9% growth.

Office rents and capital values grow across Asia Pacific

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Ongoing corporate hiring and expanding accommodation requirements underpinned the Asia Pacific office leasing market in 2Q11, according to new research from Jones Lang LaSalle in their recent Asia Pacific Office Index. Aggregate net take-up across major Tier I markets was at a similar level to the previous quarter, but improved 28 per cent year-on-year and remains close to record levels.

Colliers International Investment Services

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Citibank India paying Rs 33,000 a sq ft for 3 lakhsq ft office space at BKC Mumbai; total deal size Rs 1,000 crores
 EmaarMGF deny rumors of possible split between its partners --MGF Development and Dubai's EmaarProperties
 Kumar Builders has postponed plans for IPO; In talks with PE firms to raise around $300 million over 2011-12
 The NoidaDevelopment Authority on Monday sealed two Sports City deals for R1,707 crore, LogixGroup bagged a 200-acre plot in Sector 150 for Rs 975 croreand JS Group was allotted another plot of 150-acre in Sector 79 for Rs 732 crore
 3i India Infrastructure Fund, has invested Rs 500 croreas equity in KMC InfratechLtd (KMCIL), a subsidiary of KMC Constructions Ltd
 ShethDevelopers will launch its first retail project, Vivacity Mall –1mm sq ft, in Thane in September
 Rumored that income tax department raided 10-12 premises of the KanakiaGroup.
 Hyatt Hotels Corporation, is going ahead with plans of opening five hotels with the Mumbai-based DB Group
 SundaramRajagopal, MD of Starwood Capital, India and Southeast Asia, has resigned from the board of directors of DB Realty
 Hotel LeelaVenture will invest Rs 100 croreto upgrade its property in Goa this year and is looking to expand presence in India
 Tanishqis planning to invest around Rs 150-200 crorefor setting up around 15 showrooms in various parts of the country in next fiscal year
Metro Cash and Carry, will invest Rs 900 croreand plans to launch operations in Punjab from September this year
 Rs 6,000 croreof real estate loans have been rescheduled in the past three months
 Maharashtra Consumer Disputes RedressalCommission said a Developer can't avail residual and/or additional FSI if he fails to execute conveyance within the stipulated period
 BrihanmumbaiMunicipal Corporation has asked the state government to allow use of additional 0.33 FSI in the suburbs

Global Office Outlook

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Hot Spots emerging in Global Office Markets