Published & Updated as on - 2010-02-18

Small Offices Big Demand

Demand for small offices is increasing at a fast pace in metro cities and many developers are catering to this section. Currently, there is no independent estimation available on this segment because realty consultancies generally concentrate on large deals and the fragmented developers hardly collate data. At a time when commercial real estate is burdened with excess supply, the creation of fresh demand from small offices that have been operating from homes or industrial sheds has come as a pleasant surprise.
Source:1/2/10 Hindustan Times.

Nano City May Partner With A Foreign Company Soon

Mr Sabeer Bhatia-promoted knowledge city project, Nano City, is currently in talks with a foreign venture capital firm to be a part of it. "We are in dialogue with a foreign-based company, which will invest in the project (Nano City) as well as develop the same through its subsidiary company," Nano City Haryana Infrastructure Ltd Managing Director, Mr Naval Bhatia said. Based on the model of the Silicon Valley of the US, Nano City is proposed to be developed on 11,000 acres of land at Panchkula in Haryana and will come up in phases. The project seeks to attract world-class companies involved in the creation of intellectual property, particularly those involved in software development, nano sciences, drug discovery, bio-technology, energy research and semiconductor research.Source:2/2/2010 DNA.

Oakwood To Come Up With Nine Properties In India By 2014

Oakwood Worldwide, a global leader in serviced residences, is strengthening its portfolio in India. The company, which at present operates four properties with 525 serviced residences, plans to quadruple its inventory by coming up with nine more properties across key markets in four years. Mr Praveen Nair, country manager-India, Oakwood Asia Pacific, said most of the upcoming properties will be in newer markets. "A few like NCR, Mumbai and Pune will see increased concentration." He also said, "In Mumbai we have two projects under development - one in Andheri and one in Goregaon. Similarly, we have two developments coming up in Gurgaon and Noida. We are already present with two operational projects in Pune and we recently signed another property which will be part of HCC's Lavasa development." Other locations that are being finalised for Oakwood brands include markets such as Thiruvananthapuram, Hyderabad, Chennai and Ahmedabad.

Source:4/2/2010 DNA.