Canada-based Dream Industrial Real Estate Investment Trust (DIR) and Singapore’s sovereign wealth fund GIC through their joint venture (JV) Canadian Industrial JV have agreed to acquire Summit Industrial Income REIT in an all-cash transaction valued at approximately C$5.9 billion ($4.4 billion), including debt. Summit Industrial Income REIT is a Canadian open-ended mutual fund real estate […]
Godrej Properties said that it has acquired a 12-acre land parcel in Mundhwa-East, Pune on an outright basis to primarily develop it for a premium group housing project. According to the Indian real estate development company, the location of the land is in one of the most centrally-located residential areas in Pune. The site has […]
Godrej Properties said that it has agreed to make an outright purchase of a land parcel to execute a residential project in Manor, Palghar in Maharashtra. Spread over nearly 50 acres, the proposed residential project is projected to have a developable potential of around 1.2 million square feet of saleable area. It is made up […]
Oberoi Realty Q2FY23 results : Oberoi Realty Limited reported consolidated profit after tax of INR 318.53 crores for the second quarter of the fiscal year 2023 (Q2FY23), an increase of 19.5% compared to INR 266.55 crores for the same quarter of the previous fiscal year. The Mumbai-based real estate development company said that its consolidated […]
Godrej Properties said that it has purchased a land parcel located in Bengaluru’s Indiranagar surroundings near old airport road and within outer ring road limits. According to Godrej Properties, the acquired land covers an area of nearly seven acres. It has a developable potential of around 0.6 million square feet of sealable area that would […]
Huhtamaki India Limited, a packaging machinery manufacturing company, is set to monetize its land and building at Majiwade in Thane. The decision of the company got in-principle approval from its board of directors during their meeting on 22 July 2022. Huhtamaki India will now explore the possibility of monetizing its freehold land and building in […]
Larsen & Toubro said that its real-estate development arm — L&T Realty has signed three projects worth INR 8,000 crores ($1bn) in prime locations of the Mumbai Metropolitan Region. L&T Realty has entered into a binding agreement to co-develop projects in South Mumbai, Western Suburbs, and Thane with a development potential of 4.4 million square […]
Lendlease, an Australian real estate company, has formed a joint venture (JV) with Mitsubishi Estate Asia for acquiring the One Circular Quay development in Sydney in a deal worth up to AUD 850 million ($577.1 million). The consideration is made up of an upfront payment of about AUD 800 million ($543.17 million) and an additional […]
The Phoenix Mills Limited (PML), an Indian mixed-use real estate developer, has taken full ownership of Classic Mall Development Company (CMDCL) by acquiring the remaining 50% for INR 9,360 million. The stake was acquired from Crest Ventures Limited (46.35%) and its fully-owned subsidiary Escort Developers Private Limited (3.65%). Phoenix Mills financed the acquisition through internal […]
KKR & Co. Inc. has wrapped up the previously announced JPY230 billion (US$2 billion) acquisition of Japanese real estate asset manager Mitsubishi Corp.-UBS Realty (MC-UBSR) from Mitsubishi and UBS Asset Management. The all-cash deal was announced in March 2022. MC-UBSR has now been renamed KJR Management (KJRM). It was established in 2000 as a joint […]