Mindspace Business Parks REIT, a real estate investment trust (REIT), has acquired a commercial asset, Commerzone Raidurg, a Grade A office campus in Hyderabad’s Madhapur locality for Rs 20.38 billion. The acquisition was made through a 100 per cent stake in Sustain Properties, which holds a 65.5 per cent share in the asset. The asset has a leasable area of 1.82 million square feet, part of a larger 2.8 million square foot area. Further, the asset is fully leased. The deal is subject to shareholder approval. With this acquisition, Mindspace REIT’s portfolio will expand from 34.8 million square feet to 36.6 million square feet.
Modest Growth: Traffic performance at major ports during 2016-17
Major ports handled 647.63 million tonnes (mt) of cargo traffic in 2016-17, a year-on-year growth of 6.79 per cent. The growth was supported by an increase in all cargo categories except fertilisers and coal. Iron […]
Sustained Momentum: Key developments in the roads and bridges sector
The past year has witnessed remarkable progress in India’s road sector, reflecting the country’s commitment to road modernisation. The centre has implemented various reforms and measures to address long-standing issues. In addition to its continuing […]
Central government approves Rs 163 billion NCMM
The central government has approved the National Critical Mineral Mission with an expenditure of Rs 163 billion to focus on mineral exploration, mining, beneficiation, processing and recovery from end-of-life products. PSUs and private companies are […]