Mumbai-based private equity fund Marigold Capital and Investments is set to acquire the Leela Group’s 326-room hotel in Chennai, India, for approximately $109 million. The fund specializes in buying debt-ridden hotels and commercial real estate properties and turning them around. Mumbai-based JM Financial, an investment bank that is the advisor...
Dell EMC to Invest $1 Billion in India
IT infrastructure provider Dell EMC, based in Massachusetts, plans to invest $1 billion to set up its product development center in Pune, a city 75 miles east of Mumbai, as well as expand its manufacturing base in India. The company already has a factory near Chennai, in south India, from...
"Co-Working" Catches on in India
Co-working, a concept where individuals or startups share a common workplace environment, is slowly catching on across prime property markets in India. Across the country, co-working space of 0.73 million sq ft was tenanted last year. "Though still nascent, this category could prove to be a disrupter as bigger co-working...
Warehousing Sector Surges in India
In anticipation of the national Goods and Services Tax roll-out in July, warehousing facilities will increase by 18 percent to 132.5 million sq ft, and this sector is likely to see investments of about $700 million, according to industry experts Delhi-NCR had the maximum warehousing stock in 2016 at 29.3...
Daimler, Volvo Export Trucks, Buses from India
Both Daimler and Volvo are making India their export hub for large trucks and luxury buses such as the Mercedes-Benz, Mitsubishi Fuso, Freightliner and UD Trucks. Daimler India Commercial Vehicles (DICV), the Indian subsidiary, has already begun exporting its Mercedes-Benz trucks and buses, made at its Chennai facility, to Southeast...
Global Finance Firms to Add Office Space in India
Even as they downsize their retail operations worldwide, Barclays Plc, Credit Suisse Group AG, Standard Chartered Plc and Citigroup Inc., are among global financial firms looking to add office space in India. Barclay Technologies Center India Ltd, an offshore unit of the London-based financial services firm, is planning to add...