Edelweiss-backed Sekura Roads is all set to acquire Thrissur Expressway Limited (TEL), the 28-km long road asset owned by KMC Constructions in a deal worth Rs 800 crore, said multiple people aware of the development. At...
Construction
Embassy Property plans to divest assets soon to pare debt by over 30%
Embassy Property Development, a leading real estate firm, intends to slash its debt of ₹8,800 crore by more than a third in the upcoming two quarters by divesting specific assets, including its office park in Chennai...
GIC buys Phoenix’s Hyderabad IT Park for Rs 1,050 crore
Singapore sovereign wealth fund GIC has acquired an information technology-special economic zone (IT-SEZ) spread over 1.1 million sq ft in Hyderabad’s Gachibowli locality from the Phoenix Group for ₹1,050 crore...
Swedish real estate group SBB secures cash with JM stake sale
Troubled Swedish real estate group SBB has sold most of its shares in construction company JM for 2.8 billion Swedish crowns ($276 million), the company said, taking a significant loss on a stake bought less than two...
NCLT Chandigarh withholds Embassy Group companies’ merger with Indiabulls Real Estate
The Chandigarh bench of the National Company Law Tribunal (NCLT) has withheld the proposed merger of NAM Estates and Embassy One Commercial Property Developments with Indiabulls Real Estate. The merger sanctioned by...
Allianz-Shapoorji looks to exit Hyderabad’s IT SEZ Waverock for Rs 2,000 cr
In the single largest potential commercial property exit this year, a JV between the Allianz Group and Shapoorji Pallonji Group entity is looking to exit nearly 2.5 million sq ft IT SEZ property Waverock in Hyderabad...
Runwal buys out GIC’s entire 50% stake in Mumbai’s R City Mall
Realty major Runwal has bought out Singapore’s sovereign wealth fund GIC’s entire 50% stake in their joint retail property R City Mall for around Rs 1,000 crore to get complete control of the asset in Mumbai’s Ghatkopar...
LTI Mindtree, LTTS consolidate realty assets
Technology firms LTI Mindtree and L&T Technology Services (LTTS) are consolidating their real estate portfolio across Chennai amidst cost-cutting and hybrid work models implemented across sectors. LTI Mindtree has...
KGK Realty takeover of Anudan Properties gets NCLT approval
India’s bankruptcy court has allowed the acquisition of Anudan Properties by Mumbai-based developer KGK Realty (India). The Committee of Creditors (CoC) approved KGK Realty’s resolution plan with 76.35%...
Virtuous Retail in talks to sell malls for about $500 million
Virtuous Retail South Asia is in talks with Nexus Malls and Lake Shore India Advisory to sell all its malls for $400-500 million (about Rs 3,500-4,000crore). The retail company, a joint venture between Singapore’s...
Holcim acquires British recycling company Sivyer Logistics
Holcim has acquired Sivyer Logistics, a British company which recycles construction and demolition waste in London. Sivyer currently handles roughly 1 million tons of materials per year, using recycling and recovery...
Embassy REIT Acquires Embassy Business Hub in Bengaluru for Rs 334.8 crore
Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, has agreed to acquire Embassy Business Hub, a 1.4 million square feet (‘msf’) office property in Bengaluru, for a total...
