Construction

Office vacancy rate nears 20% to set fresh record, Moody’s says

Office vacancy rate nears 20% to set fresh record, Moody’s says

(Bloomberg) -- US office vacancies hit a fresh peak in the first quarter as needs continue to evolve with hybrid work setups. US office vacancies hit a fresh peak in the first quarter as needs continue to evolve with hybrid work setups. (Picture for representational purposes only)(Pixabay) Vacancies rose to a record 19.8%, Moody’s Analytics said in a preliminary report Monday, from 19.6% in...

Bezos pays  million for third mansion in Florida spree

Bezos pays $90 million for third mansion in Florida spree

(Bloomberg) -- Jeff Bezos is expanding his real estate empire with a third mansion on South Florida’s exclusive Indian Creek island. Jeff Bezos is expanding his real estate empire with a third mansion on South Florida’s exclusive Indian Creek island. (AP) The Amazon.com Inc. founder agreed to pay about $90 million in an off-market transaction for a six-bedroom home in the Miami-area...

MCD logs dip in property tax collection, taxpayers in FY24 | Latest News Delhi

MCD logs dip in property tax collection, taxpayers in FY24 | Latest News Delhi

The Municipal Corporation of Delhi (MCD) has registered a dip in property tax revenue collection as well as the number of taxpayers in 2023-24 even as the other sectors, including parking, advertisement and trade licences, recorded an uptick with the financial year culminating on Sunday, senior municipal officials said. The corporation has recorded a decrease of over ₹250 crore in the tax...

WeWork expects to emerge from bankruptcy by the end of May, predicting  bn in rental savings

WeWork expects to emerge from bankruptcy by the end of May, predicting $8 bn in rental savings

(AP) Embattled co-working space provider WeWork says it expects to emerge from bankruptcy by the end of May, touting lease-restructuring efforts that it estimates will bring $8 billion in future rental savings. Embattled co-working space provider WeWork says it expects to emerge from bankruptcy by the end of May, touting lease-restructuring efforts that it estimates will bring $8 billion in...

Sunteck Realty Ltd leases second commercial building in Mumbai for 29 years to generate rent revenue of over ₹2000 cr

Sunteck Realty Ltd leases second commercial building in Mumbai for 29 years to generate rent revenue of over ₹2000 cr

Mumbai-based listed real estate developer Sunteck Realty Ltd is expanding its annuity income business of its commercial portfolio and has signed a long-term lease agreement with Bennett, Coleman & Co Ltd for its second premium commercial building at BKC Junction, Sunteck Icon, the company said in a regulatory filing. Sunteck Realty Ltd leases second commercial building in Mumbai for 29...

Institutional investments in real estate touch .0 billion in Q1 2024; share of domestic investments improve

Institutional investments in real estate touch $1.0 billion in Q1 2024; share of domestic investments improve

Institutional investments in the real estate sector touched $1.0 billion in the first quarter of 2024. While this was a 40% drop compared to the same period last year, real estate investments showed improvement on a sequential basis registering 21% QoQ rise, a report by Colliers has said. Office continued to drive capital inflows with a commanding 57% share in Q1 2024; Hyderabad and Pune...

Bengaluru-based Sobha Ltd gets ₹46 crore income tax demand notices; company to file appeal

Bengaluru-based Sobha Ltd gets ₹46 crore income tax demand notices; company to file appeal

Listed real estate firm Sobha Ltd has received demand notices of nearly ₹46 crore from the Income Tax Department. The Bengaluru-based company said that it is in the process of filing an appeal before the Commissioner of Income Tax (Appeals), against the orders within the prescribed timelines. Listed real estate firm Sobha Ltd has received demand notices of nearly ₹46 crore from the Income...

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