Track2Realty: To strengthen long-term competitiveness and deliver a stronger and more differentiated client servicing experience, DTZ has announced a new company structure for its real estate business operations in India.
Track2Realty: DTZ has expanded its full service real estate operations in India by investing in the upcoming hub of real estate in the south of the country, Chennai. The announcement came with the inauguration of a new client service office in the city. This office will be a part of DTZ’s Southern operations and will also serve the peripheral markets of Kochi and Coimbatore.
In Q2 2012, the retail landscape in India was characterized by subdued demand coupled with restrained supply of mall space and largely stable rentals, says a DTZ report. While continued high inflation levels have restrained consumer spending and delayed purchase decisions, the slowdown in economic growth and weak consumer sentiments have resulted in a sense of uncertainity amongst retailers thereby putting expansion plans on hold.
In Q2 2012, the retail landscape in India was characterized by subdued demand coupled with restrained supply of mall space and largely stable rentals, says a DTZ report. While continued high inflation levels have restrained consumer spending and delayed purchase decisions, the slowdown in economic growth and weak consumer sentiments have resulted in a sense of uncertainity amongst retailers thereby putting expansion plans on hold.
ITES and BFSI continue to be primary demand drivers of office space in India in 2012, says DTZ Occupier Perspective: India Office Demand and Trends Survey 2011. It says Delhi NCR and Bengaluru preferred by IT/ITES while Mumbai is BFSI’s favourite. Tier II cities of Bhubaneswar, Chandigarh and Jaipur preferred by IT/ITES; Ahmedabad by BFSI’s favourite; Gurgaon is the preferred micro market in Delhi NCR.
Ambar Maheshwari has joined India’s largest international property consultancy Jones Lang LaSalle as Managing Director – Corporate Finance.
Track2Realty: Mumbai, the financial capital of India, continued its office expansion and reflected occupiers’ confidence during the year 2014. Followed by 10% in Q3, the take-up figures of office space for this city grew at 29% q-o-q (absolute terms) from 1.1 million sq. ft in Q3 to 1.42 million sq ft in Q4 2014. The office rentals stayed steady during second half of the year and experts predict a similar spectacle over the next few quarters in 2015.
Track2Realty: The Indian real estate market is showing signs of confidence and improved industry momentum post the general elections 2014. The last two quarters clocked an uptick in commercial space take up across leading cities in India. Noticeably, Delhi NCR stood as one of the leading occupiers, registering a significant increase of 25% (y-o-y) in take-up figures during 2014. Moving forth, the demand and corresponding vacancy levels would be key determinants for future traction in the commercial segment across this region.
Track2Realty: Retail leasing activity continued to be subdued in Q2 2013, as most retailers remained cautious due to the weak economic conditions that are currently prevailing in India. Several retailers started to employ new service delivery models by closing down loss making stores, especially in non-core markets.
Track2Realty: Top management level changes have been reported with DTZ India. Aniruddh Wahal will now hold the position of Managing Director – Occupier Services, Transactions. While Aniruddh will play a pivotal role in growing the P&L of this offering, at the same time, as an ELT member, he will also be responsible to grow the Occupier Client base and support them with the entire gamut of services that DTZ offers.