22 minutes ago

• BMC has floated an INR 22.16 crore tender for mitigation of high-risk traffic black spots across Mumbai through road safety interventions.
• The proposed works include installation of dividers, thermoplastic road markings, signage boards, pavement markers and junction improvement measures.
• The tender was issued by BMC’s Roads and Traffic Department through an open bidding process, with bids scheduled to open on 9 June.
• BMC stated that the project is part of broader efforts to improve road safety infrastructure, traffic circulation and accident prevention across the city.Read more

52 minutes ago

DLF’s joint venture with Singapore sovereign wealth fund GIC, DLF Cyber City Developers Ltd (DCCDL), recorded a 16 per cent year-on-year increase in rental income to INR 5,525 crore in FY26, supported by sustained demand for premium office and retail assets across key markets including Gurugram and Chennai. Office rental income rose 17 per cent to INR 4,550 crore, while retail rental earnings increased 11 per cent to INR 975 crore. DCCDL currently operates a commercial portfolio spanning 44.3 million sq ft, largely comprising office properties. The company also reported growth in revenue, EBITDA and profit during the fiscal year. DLF said upcoming office and retail completions are expected to further strengthen its annuity portfolio amid continued expansion by global occupiers and Global Capability Centres (GCCs).Read more

1 hour ago

• China’s new home prices recorded their slowest monthly decline in a year during the past month, supported by improving prices in major cities such as Shanghai and Shenzhen.
• Tier-one cities saw marginal price growth, while smaller tier-two and tier-three cities continued to face falling prices, unsold inventory and weak housing demand.
• Analysts said the property market has still not fully stabilised and may take another one to two years to witness a broader recovery due to oversupply concerns.
• Property investment in China continued to decline sharply, while household loans, including mortgages, contracted significantly, reflecting weak buyer confidence.
• Chinese authorities have introduced buyer incentives and state-backed housing purchase programmes to reduce inventory and support the real estate sector.Read more

1 hour ago

• The Haryana Cabinet has approved a revised project cost of INR 10,266.54 crore for the Gurugram Metro Rail project connecting Millennium City Centre and Cyber City in Gurugram.
• The revised estimate is nearly double the earlier sanctioned cost of INR 5,452.72 crore and includes inflation-linked escalation, GST revisions, additional rolling stock and revised infrastructure requirements.
• The 28.5-km corridor, planned with 27 stations, will also include a 1.8-km spur linking Sector-5 and Gurugram Railway Station to improve multimodal connectivity.
• Haryana has approved supplementary reports for Rapid Metro integration and decided to seek World Bank funding for the project’s full soft loan component following delays in funding confirmation from the European Investment Bank.
• The approvals are intended to accelerate implementation of the long-pending metro corridor in Gurugram, one of the NCR’s largest commercial and residential markets.Read more

2 hours ago

• National Real Estate Company KPSC reported a first-quarter net loss attributable to shareholders of 53.8 million dinars.
• The company posted total operating revenue of 811,568 dinars during the quarter.
• National Real Estate said the higher loss was mainly due to losses from its share of results during the reporting period.
• The company operates across real estate development, investment, hospitality, and property management businesses.
• The results come amid continued pressure on parts of the Gulf real estate and investment market.Read more

2 hours ago

Toll collection has commenced on the 129.7-km Meerut–Budaun stretch of the Ganga Expressway following the completion of trial traffic operations on the corridor. The section is being operated by Meerut Budaun Expressway Limited, a special purpose vehicle associated with IRB Infrastructure Developers Ltd and IRB Infrastructure Trust. The six-lane greenfield corridor forms part of the larger Ganga Expressway project in Uttar Pradesh and is expected to begin revenue generation for the concessionaire. The project, developed at an estimated cost of INR 6,538 crore, was inaugurated in the past month and is aimed at improving regional road connectivity and supporting industrial and economic activity across multiple districts in the state.Read more

3 hours ago

Man Infraconstruction Limited has acquired an ultra-luxury residential development site off Bandstand in Bandra West, Mumbai, strengthening its presence in one of the city’s most premium housing micro-markets. The project, planned under the company’s MS Collection Residences vertical, is expected to have an estimated gross development value (GDV) exceeding INR 1,000 crore. Spread across more than 30,000 sq ft, the sea-view development is currently progressing through the approval stage and has applied for its Intimation of Disapproval (IOD). The acquisition expands MICL Group’s Bandra portfolio to a combined GDV of over INR 2,350 crore and takes the company’s overall real estate portfolio to an estimated INR 18,575 crore.Read more

4 hours ago

• Vijayawada Municipal Corporation (VMC) plans to introduce a QR code-based property identification system across the city.
• Residential and commercial properties will receive unique QR-enabled door numbers linked to digital property records.
• The initiative aims to improve property tax administration, verification processes and accuracy of municipal records.
• Civic officials expect the system to help reduce discrepancies in property data and support better urban governance.
• The move is part of the growing adoption of digital property management systems by municipal bodies across India.Read more

5 hours ago

• GMR Hyderabad International Airport Ltd has commissioned Cargo Terminal 2 at Hyderabad International Airport to address rising domestic and international cargo demand.
• The new facility spans 16,864 sq m and has been designed with an initial annual handling capacity of 50,000 metric tonnes, expandable to 100,000 metric tonnes.
• The terminal includes dedicated import and export processing zones, cold-chain infrastructure for pharmaceutical cargo, temperature-controlled storage and upgraded cargo handling systems.
• The development is aimed at strengthening Hyderabad’s position as a major pharmaceutical and logistics hub while improving cargo turnaround efficiency and regulatory processing timelines.
• The facility forms part of broader infrastructure expansion initiatives being undertaken by the GMR Group at Hyderabad airport and its surrounding aerocity ecosystem.Read more

6 hours ago

The Brihanmumbai Municipal Corporation (BMC) is moving ahead with a citywide smart parking initiative aimed at enabling motorists to digitally reserve parking spaces through a unified mobile and web-based platform. The proposed system will provide real-time parking availability, advance booking and digital payment facilities across municipal and private parking locations. The move comes amid rising vehicle density in Mumbai, where government data indicates nearly 2,300 vehicles per kilometre and over three lakh vehicle registrations during 2025. Industry experts have welcomed the initiative, stating that digital parking management can improve traffic flow and parking efficiency, but emphasised that Mumbai will also require large-scale development of mechanised, vertical and multi-level parking infrastructure to address long-term urban mobility challenges.Read more

7 hours ago

Central Bank of India is set to operationalise its IFSC Banking Unit (IBU) at GIFT City in Gandhinagar in the first week of next month after receiving approvals from the Reserve Bank of India and the International Financial Services Centres Authority. The move is aimed at expanding the bank’s international banking operations and increasing its foreign exchange business. The public sector lender plans to offer foreign currency loans, trade finance and treasury services through the new unit. The bank also said it is well prepared for the Expected Credit Loss (ECL) framework scheduled to come into effect from April 1, 2027, backed by additional provisions and stronger risk monitoring systems.Read more

8 hours ago

• The Uttar Pradesh Cabinet has approved the transfer of land parcels required for the Agra Metro Rail project, enabling further expansion and operational connectivity for the corridor.
• The approval covers the transfer of land from multiple government departments to the Uttar Pradesh Metro Rail Corporation for metro infrastructure development in Agra.
• The decision is linked to ongoing work on the city’s metro network, which is being developed to improve urban mobility and connectivity across key residential, commercial and tourist zones.
• Authorities said the land allocation would support construction activities, station infrastructure and depot-related requirements for the metro project.
• The Agra Metro project forms part of the state government’s broader urban transport strategy focused on reducing congestion and improving public transit infrastructure in major Uttar Pradesh cities.Read more

9 hours ago

The National Highways Authority of India has raised concerns over increasing instances of motorists using tampered or obscured vehicle number plates to avoid toll payments at newly introduced barrier-less toll plazas. The issue has emerged at the camera-based Multi-Lane Free Flow (MLFF) toll system operational on Delhi’s Urban Extension Road-II corridor near Mundka. According to reports, some motorists are concealing or modifying High Security Registration Plates to disrupt automatic number plate recognition systems used for toll deduction. NHAI has sought stricter enforcement support from transport authorities as the government accelerates the rollout of AI-enabled and satellite-supported seamless tolling infrastructure across national highways to reduce congestion and improve traffic movement.Read more

10 hours ago

The Tamil Nadu Alliance of Resident Welfare Associations (TNARWA) has urged the state government to undertake a transparent statewide audit of property tax assessments for residential and commercial buildings, alleging large-scale tax evasion and manipulation in civic valuation processes. The federation claimed that irregular assessments and under-reporting of property details have resulted in revenue losses amounting to hundreds of crores of rupees for urban local bodies across the state. The organisation has sought inspections of properties linked to elected representatives and politically connected individuals, alongside disciplinary action against officials responsible for alleged lapses in assessment procedures. The demand comes amid concerns over Tamil Nadu’s fiscal position and follows previous allegations of property tax irregularities in certain urban local bodies. TNARWA has also called for the creation of an independent oversight mechanism and a fully digital inspection framework to improve transparency in tax administration.Read more

Lucknow News Desk

20 May 2026

The Lucknow Municipal Corporation is preparing to introduce a one-time settlement (OTS) scheme to help nearly 25 lakh residents clear long-pending house tax and water dues. The move is aimed at reducing the financial burden on property owners whose liabilities increased due to accumulated interest and revised property assessments over the years. Civic authorities estimate that pending house tax dues have crossed INR 700 crore, while water and sewerage dues stand at around INR 110 crore. The proposed scheme is expected to offer relief through interest waivers and help improve revenue recovery for the civic body.Read more

Kochi News Desk

20 May 2026

Marine Electricals (India) Ltd has secured new orders worth INR 208.72 crore from Adani Infra (India) Ltd and Udupi Cochin Shipyard Ltd for power distribution and alarm monitoring systems. The contracts involve the supply of power distribution systems to Adani Infra and alarm monitoring systems to Udupi Cochin Shipyard, with execution timelines ranging from 12 to 24 months. The company disclosed the contracts through a regulatory filing during the past week and stated that the transactions do not fall under related party arrangements. The order win comes amid rising infrastructure and maritime sector investments, including ongoing expansion across ports, shipbuilding, logistics and industrial infrastructure projects in India.Read more

20 May 2026

RITES Ltd reported a slight decline in its net profit for the March quarter of FY26 as higher operational expenses weighed on earnings. The company posted a net profit of INR 129.97 crore compared to INR 132.71 crore in the corresponding period last year. Despite the dip in profitability, revenue saw strong growth driven by increased business activity across segments. Total income rose to INR 799.21 crore during the quarter, while expenses also climbed significantly. The company’s board has recommended a final dividend of INR 2.75 per share for FY26, subject to shareholder approval.Read more

20 May 2026

The Bihar government is preparing to introduce mandatory map approvals for apartments and multi-storey residential projects in rural areas to regulate rising construction activity outside municipal limits. The proposed rules, being drafted by the Panchayati Raj Department, are aimed at improving planning, construction safety and transparency in village housing projects. The state is also considering a RERA-like system for larger rural developments, including project registration, escrow account norms and compensation provisions for delayed possession. The move comes as real estate activity increases in rural pockets near Patna and other fast-growing urban centres in Bihar.Read more

20 May 2026

• NeoLiv plans to invest around INR 500 crore in a 76-acre residential project in the Panvel-Khopoli belt of the Mumbai Metropolitan Region (MMR).
• The upcoming development will include housing plots and villas with a total saleable area of nearly 13 lakh sq ft.
• The project is expected to generate an estimated revenue potential of around INR 800 crore.
• This will be NeoLiv’s third project in the MMR region as the company expands its presence beyond Delhi-NCR.
• The company has already launched two housing projects in Delhi-NCR and plans to launch three projects in MMR during the current financial year.Read more

20 May 2026

• Digital Realty has opened its first data center in Barcelona, expanding its presence across the Mediterranean region.
• The new facility will have a planned capacity of 14 MW to support growing digital infrastructure demand.
• The Barcelona data center is expected to cater to rising requirements for cloud computing, AI workloads, and data storage services across Southern Europe.
• Barcelona is emerging as an important connectivity hub due to its subsea cable links and improving digital ecosystem.
• The expansion strengthens Digital Realty’s European network strategy as demand for large-scale data centers continues to rise globally.Read more

20 May 2026

The Thane Municipal Corporation (TMC) has earmarked nearly 100 acres of land linked to the Sanjay Gandhi National Park (SGNP) under its draft planning proposals, drawing concerns from environmental groups and forest authorities. The land has reportedly been proposed for public-use and green infrastructure purposes as part of the city’s development framework. The move comes amid continuing legal and policy discussions around forest land, rehabilitation planning and development activity near SGNP, where urban expansion and infrastructure growth have increasingly intensified land-use pressures.Read more

20 May 2026

Industry leaders from the retail, logistics, FMCG and commerce sectors across the Asia Pacific region are set to gather in Bangkok later this week for the 2026 APAC edition of the ‘Last Mile Leaders’ summit. The two-day event will focus on key challenges and changing trends in the logistics and delivery ecosystem, especially in the last-mile segment. Senior executives from companies including Electrolux, Metcash, JB Hi-Fi, CEVA Logistics, Thailand Post and Coca-Cola Europacific Partners are expected to participate. Organiser FarEye said the summit will also see the launch of a research report examining technology adoption, AI integration and infrastructure developments in last-mile delivery operations across the region.Read more

Mumbai News Desk

20 May 2026

• Mumbai Police’s Economic Offences Wing (EOW) arrested builder Sohail Abdullah Dukka in connection with an alleged fraud in the One Jogeshwari SRA redevelopment project in Jogeshwari West.
• The accused allegedly sold around 10 flats illegally at below-market rates and diverted the money into personal and business accounts instead of the project’s designated RERA account.
• The complaint stated that flats worth nearly INR 14.9 crore were involved, while around INR 10.67 crore was allegedly misappropriated.
• Investigators are examining financial transactions, flat allotments and whether more buyers or investors were impacted in the redevelopment project.Read more

20 May 2026

Umm Al Qura for Development and Construction, the developer behind the Masar destination project in Makkah, has signed a reservation agreement to sell a plot of land within the development to Heyazah Osool Al-Hejaz Development Company. The transaction, valued at SAR 210.8 million, is aimed at developing hospitality units within the large-scale mixed-use destination. The deal reflects continued investment activity in hospitality-led real estate projects in Saudi Arabia, particularly around Makkah, where demand for accommodation infrastructure has remained strong due to religious tourism and ongoing urban development initiatives.Read more

20 May 2026

The Enforcement Directorate (ED) has widened its investigation into an alleged INR 150 crore Change of Land Use (CLU) fraud connected to multiple real estate projects in Mohali. The probe involves projects linked to Suntec City and Altus Space Builders Pvt Ltd, with the agency seeking records from the Greater Mohali Area Development Authority (GMADA). The investigation is focused on alleged forged documents, irregular CLU approvals, financial transactions and cheating of homebuyers and landowners. Earlier searches across Mohali, Chandigarh and Patiala reportedly led to the seizure of cash, property-related documents and digital records connected to the case.Read more

Mumbai News Desk

20 May 2026

• BMC has set a June 2026 deadline to open the long-delayed Vidyavihar east-west flyover in Mumbai.
• The 650-metre flyover will connect LBS Marg and Ramkrishna Chemburkar Marg over Vidyavihar railway station.
• The project has faced repeated delays due to encroachments, construction hurdles and tree-cutting approvals.Read more

20 May 2026

• J Kumar Infraprojects Ltd reported a 4 per cent decline in consolidated net profit to INR 109.6 crore for the quarter ended March 2026.
• The company had posted a consolidated net profit of INR 114.2 crore in the corresponding period last year.
• Consolidated income during the quarter fell marginally to INR 1,616.5 crore from INR 1,642.6 crore a year ago.
• The board recommended a dividend of INR 4 per equity share for FY26, subject to shareholder approval at the upcoming Annual General Meeting.
• J Kumar Infraprojects continues to focus on metro, tunnelling, irrigation, and other complex infrastructure projects across India.Read more

20 May 2026

The Enforcement Directorate has received permission from a special PMLA court in Mumbai to arrest self-styled godman Ashok Kharat in connection with an alleged INR 70 crore money laundering case. Kharat, who is already in judicial custody in Nashik jail in separate rape and fraud cases, is accused of operating an extortion network and routing funds through multiple benami bank accounts. The ED has alleged that money collected from victims through religious manipulation and the sale of so-called “blessed” products was used to acquire properties in his and his family members’ names. Authorities are also probing possible wider financial links and additional beneficiaries.Read more

20 May 2026

Godrej Properties has completed the handover of more than 500 plots at its Forest Estate project in Nagpur. The company also conducted the first Nagpur edition of its customer handover initiative, Shubh Aarambh, as part of the process. The development marks another milestone for the Mumbai-based developer in the plotted development segment, which has seen rising demand across several tier-II cities. In recent years, Godrej Properties has been expanding its residential presence beyond metro markets through plotted communities and township-style developments in locations with improving infrastructure and housing demand.Read more

20 May 2026

Residential asking prices in the UK recorded a stronger-than-usual rise in May, according to property portal Rightmove, even as global uncertainty linked to the Iran conflict continued to affect sentiment. Average asking prices increased 1.2% month-on-month, above the typical seasonal rise seen during this period. Mortgage rates also eased slightly, offering some relief to buyers. However, annual price growth remained negative, while sales activity stayed mixed. The number of homes available for sale continued to remain at its highest level in more than a decade, indicating that supply in the market is still elevated.Read more

20 May 2026

The Mumbai-Ahmedabad Bullet Train project has achieved a major construction milestone with the lowering of the first Tunnel Boring Machine cutterhead at Vikhroli in Mumbai. The 13.6-metre-diameter cutterhead forms part of two TBMs being assembled for excavation of a 16 km underground tunnel section, including India’s first undersea rail tunnel beneath Thane Creek. Each TBM weighs over 3,000 tonnes and is designed to construct a single tunnel carrying both high-speed rail lines.The cutterhead, weighing around 350 tonnes, has been fitted with 84 cutter discs, 124 scrapers and 16 bucket lips for excavation and muck removal operations. The machine will tunnel nearly 6 km from Vikhroli to Bandra Kurla Complex beneath dense urban areas and the Mithi river, with multiple monitoring systems being deployed to ensure structural and excavation safety during construction.Read more

20 May 2026

• Indian Hotels Company (IHCL) has signed a 105-key brownfield gateway resort project in Bharatpur, Rajasthan.
• The company said Bharatpur is witnessing rising demand for experiential tourism, destination weddings and MICE activities due to its strategic location and bird sanctuary.
• With the new signing, IHCL’s Rajasthan portfolio will increase to 67 hotels, including 24 under development.
• Separately, Hilton has signed a 96-key Hilton Garden Inn hotel in Kompally, Hyderabad, which is expected to open in 2028.
• Hilton said it plans to significantly expand its India portfolio in the coming years, targeting both major gateway cities and emerging business destinations.Read more

20 May 2026

• The West Bengal government has granted in-principle approval for handing over seven national highway stretches to National Highways Authority of India and National Highways and Infrastructure Development Corporation Limited.
• The decision is expected to revive long-pending infrastructure works on strategic road corridors that were awaiting formal transfer from the state Public Works Department.
• Key stretches include NH-312 connecting multiple districts up to the India-Bangladesh border, along with portions of NH-31 and NH-33 in West Bengal.
• Several northern corridors linking Sikkim, Bhutan and Bangladesh, including routes in Kalimpong, Darjeeling and Jaigaon, will now be developed by NHIDCL.
• The move is aimed at accelerating national highway development, improving cross-border connectivity and easing execution delays that had persisted for nearly a year.Read more

20 May 2026

• Australia’s Labor government is facing voter backlash after proposing major changes to property investment taxes in its latest budget.
• The reforms include limiting capital gains tax discounts and negative gearing benefits to address housing affordability and intergenerational inequality.
• Recent polls showed many voters believe the measures could negatively impact the economy, with strong opposition coming from older Australians, homeowners and property investors.
• Despite criticism over breaking earlier election promises on housing taxes, Prime Minister Anthony Albanese remained the preferred leader in one of the surveys.
• Support for the far-right One Nation party increased following the budget announcement, while younger Australians and renters were comparatively less critical of the proposed reforms.Read more

20 May 2026

Managed office space operators Table Space and The Executive Centre (TEC) are expanding their commercial real estate footprint across South India amid rising demand for flexible workspaces from technology firms and global capability centres (GCCs). Table Space has added close to five lakh sq ft across Hyderabad’s key office markets including HITEC City and Kokapet. TEC has announced new centres across Bengaluru, Hyderabad and Chennai, adding around 4.65 lakh sq ft and over 6,000 workstations. The expansion reflects continued demand for Grade A managed office spaces and enterprise-focused flexible workspace solutions in major IT hubs.Read more

20 May 2026

• Bhajanlal Sharma inaugurated Rajasthan’s first semiconductor cluster at Bhiwadi and highlighted the state government’s push to strengthen industrial investment through 35 sectoral policies introduced over the past two years.
• The project forms part of a broader industrial expansion strategy covering semiconductors, electronics manufacturing, renewable energy and infrastructure development across Rajasthan.
• The Bhiwadi electronics manufacturing cluster involves an investment of INR 1,200 crore and is expected to create employment opportunities for around 2,500 people.
• The event also included inauguration and foundation laying ceremonies for multiple projects in Khairthal-Tijara district, including the Elsina Electronics Complex and a 34 MLD sewage treatment plant.
• Union ministers Ashwini Vaishnaw and Bhupender Yadav attended the programme virtually and outlined the Centre’s focus on semiconductor and electronics manufacturing growth.Read more

20 May 2026

Investment activity in India’s hotel sector continued to remain strong during the first quarter of 2026, supported by growing investor confidence and rising demand for hospitality assets. According to a recent report by JLL, hotel investments rose 58 per cent year-on-year to nearly USD 185 million during the January-March period. The report highlighted increasing participation from institutional investors, private equity firms, hotel companies and high net-worth individuals. Large transactions, expansion plans by organised hotel operators and new development opportunities around airports and commercial hubs are also contributing to sustained investment momentum across both metro and emerging cities.Read more

20 May 2026

Abu Dhabi-based Modon Holding has partnered with Montage Hotels & Resorts to launch an ultra-luxury hospitality and branded residences project at Ras El Hekma on Egypt’s Mediterranean coast. The development, named Montage Ras El Hekma, will mark the hospitality group’s entry into the Egyptian market and introduce branded residences for buyers in the fast-growing coastal destination. The project comes as Ras El Hekma continues to attract major regional and international investments following large-scale tourism and infrastructure development plans announced over the past year.Read more

Bangalore News Desk

20 May 2026

The Bengaluru Development Authority (BDA) is facing growing legal and regulatory pressure over delays in housing and plotted development projects across Bengaluru. Karnataka RERA has directed the authority to register pending projects, complete infrastructure works and address complaints raised by homebuyers over delayed possession and missing civic amenities. Buyers in projects such as Gunjuru Housing Project and Nadaprabhu Kempegowda Layout have alleged prolonged delays despite making full payments years ago. Recent K-RERA orders have also clarified that public development authorities are subject to RERA rules and can be held accountable for compensation and project delivery delays.Read more

Hyderabad News Desk

20 May 2026

Hyderabad’s plotted development market saw strong buyer participation during a recent Rajiv Swagruha Corporation auction, where residential plots in Thorrur recorded bids as high as INR 45,500 per sq yard. The auction included 85 plots across Thorrur, Bahadurpally and Kurmalguda and generated nearly INR 83 crore in revenue. Locations near the Outer Ring Road (ORR), Adibatla IT corridor and airport connectivity attracted the highest demand. The auction reflects continued interest in Hyderabad land investment, especially in emerging residential corridors with improving infrastructure and connectivity.Read more

20 May 2026

The Prayagraj Development Authority (PDA) has introduced a digital land auction platform enabling buyers from across India and overseas markets to participate remotely in property auctions conducted by the authority. The initiative is aimed at expanding investor participation, improving transparency in land transactions and accelerating disposal of residential and commercial plots under PDA schemes in Prayagraj. The authority stated that the online system would allow bidders to access auction-related information, submit applications and participate in real-time bidding without requiring physical presence in the city. The move forms part of broader digitisation efforts being implemented by urban development agencies in Uttar Pradesh to streamline land allotment and reduce procedural delays. Officials expect the platform to widen the buyer base for institutional, commercial and residential land assets while strengthening revenue generation for urban infrastructure projects in Prayagraj.Read more

20 May 2026

Ganesh Housing Corporation has launched Million Minds Tech City, an IT Special Economic Zone (SEZ) project in Ahmedabad, nearly 18 years after the original land allotment process began. The proposed development is aimed at attracting Global Capability Centres (GCCs), technology companies and innovation-led businesses to Gujarat. Planned as a large integrated commercial hub, the project is expected to strengthen Ahmedabad’s position in India’s office leasing market as cities beyond Bengaluru and Hyderabad increasingly compete for technology and back-office investments from multinational occupiers.Read more

20 May 2026

• Argentum AI has signed a USD 2.5 billion agreement with cloud gaming company Boosteroid and real estate firm DL Invest Group for the development of a 300-megawatt data centre project in Europe.
• The project will involve deployment of large-scale GPU infrastructure, including future integration of next-generation systems from NVIDIA.
• The companies stated that the project is expected to become one of the largest independently developed AI infrastructure initiatives in the European market.
• The agreement reflects growing global demand for AI compute infrastructure amid increasing investment in hyperscale data centres and cloud-based artificial intelligence systems.
• Argentum AI said it is currently engaging with financial institutions and investment banks to arrange large-scale funding support for future AI infrastructure deployment projects.Read more

Mumbai News Desk

20 May 2026

The Brihanmumbai Municipal Corporation has invited bids to appoint a technology agency for development and operation of an integrated Construction and Demolition (C&D) Waste Management Portal across Mumbai. The proposed platform will integrate mobile applications, a web portal and existing BMC systems including AutoDCR, GIS and financial databases to streamline waste tracking, approvals and monitoring. The selected agency will handle platform development, cybersecurity compliance, API integration, cloud hosting and long-term operations and maintenance. BMC stated that the system is intended to enable real-time data synchronisation, grievance tracking and improved regulatory oversight across departments.Read more

20 May 2026

The Bank of Spain has said it is carefully evaluating possible restrictions on mortgage lending to strengthen financial stability without worsening pressure in the country’s rental housing market. In its latest financial stability review, the central bank warned that tighter lending norms could shift more people from homeownership to renting, potentially increasing rents further in a market already facing a major housing shortage. While home prices and mortgage lending continue to rise, the regulator said current data does not indicate signs of a real estate bubble similar to the one that led to Spain’s housing crash and banking crisis in 2008.Read more

20 May 2026

• National Bank for Agriculture and Rural Development has acquired leasehold rights for a commercial complex in Bandra-Kurla Complex, Mumbai, from Mahanagar Telephone Nigam Limited for INR 350.72 crore.
• The transaction, registered in May 2026, involves an unexpired lease period of around 52 years for a property originally leased by Mumbai Metropolitan Region Development Authority in 1998.
• The asset comprises nearly 2,680 sq m of land and over 4,021 sq m of built-up space spread across two buildings at BKC Plot R-4.
• NABARD has taken over the property for institutional use and will directly hold the sub-lease under MMRDA.
• The financial institution will also assume future liabilities related to ground rent, taxes, maintenance charges and transfer-related payments from March 30, 2026 onwards.Read more

20 May 2026

• Anarock Group reported a 25 per cent rise in FY26 revenue to INR 946 crore, compared to INR 755 crore in the previous fiscal.
• The growth was supported by strong housing demand and robust leasing activity in office and retail real estate segments.
• The company facilitated housing sales worth INR 16,435 crore during the last financial year, while the residential business contributed INR 442 crore to overall revenue.
• Chairman Anuj Puri said the company is focusing on expansion and strengthening its proptech and advisory capabilities amid evolving housing demand trends.
• The group is also expanding its presence in the Middle East, especially Dubai, and recently appointed Aayush Puri to lead its regional residential operations.Read more

Noida News Desk

20 May 2026

The Noida Authority has initiated preparations to acquire land across 37 villages in Gautam Buddh Nagar and Bulandshahr districts for the first phase of the New Noida project, officially known as the Dadri-Noida-Ghaziabad Investment Region (DNGIR). The acquisition process, expected to begin next month, will cover 24 villages in Bulandshahr and 13 in Gautam Buddh Nagar through a consent-based mechanism. The authority has sought deployment of three tehsildars and plans to establish a temporary field office to facilitate the exercise. Spread over 209.11 sq km across 84 villages, the proposed urban and industrial expansion has been identified as part of the Delhi-Mumbai Industrial Corridor’s first-phase investment regions. The authority has fixed land acquisition rates at INR 4,300 per sq metre and plans phased development up to 2041, with industrial use forming the largest share of the proposed land allocation.Read more

20 May 2026

• AVPL International will inaugurate Phase 1 of its proposed INR 80 crore ‘Drone City Haryana’ project at Sisai village in Hisar district on May 16.
• The project has secured INR 58.51 crore in incentives under the Haryana Enterprise and Employment Policy-2020 and is planned as an integrated drone manufacturing and training ecosystem.
• Spread across nearly 11.5 acres, the development will house 23 industrial sheds for drone and drone-component companies operating across sectors including agriculture, logistics and surveillance.
• The company expects the project to generate employment and entrepreneurship opportunities for more than 800 youth through manufacturing, technical training and drone operations.
• A parallel orientation initiative under the ‘500 Drone Udhami Scheme’ will train Scheduled Caste youth as drone entrepreneurs, pilots, technicians and agri-drone service providers in partnership with the Haryana Scheduled Castes Finance and Development Corporation.Read more

20 May 2026

• ITC Hotels reported a 23.1% year-on-year rise in consolidated net profit to INR 317.43 crore for the quarter ended March 2026.
• Revenue from operations increased to INR 1,253.70 crore during the January–March period, while total expenses also rose to INR 895.35 crore.
• The company has signed an agreement to acquire 100% stake in Zuri Hotels and Resorts for an enterprise value of INR 205 crore on a cash-free, debt-free basis.
• The acquisition includes ‘The Zuri Kumarakom, Kerala Resort & Spa’, a 72-key luxury resort spread across 18 acres in Kerala, which will undergo renovation and rebranding.
• During FY26, ITC Hotels signed 33 hotels with over 3,300 keys and reiterated its target of operating 250 hotels with more than 22,000 keys by 2031 under its asset-right expansion strategy.Read more