03 Oct 2024

Speciality Restaurants, India's first publicly listed restaurant company, plans to open 40-50 new outlets in the next three years, expanding both domestically and internationally. With 97 restaurants and 32 confectionery outlets, the company is focusing on the Asian market, particularly through its Mainland China and Oh! Calcutta brands. Chairman Anjan Chatterjee emphasised the importance of robust, authentic food and noted the challenges of sustaining a restaurant brand beyond five years. The firm aims to cater to the Indian diaspora, ensuring they have access to beloved dishes from Mainland China and Asia Kitchen.Read more

02 Oct 2024

Krsnaa Diagnostics has announced the acquisition of a 23.53% stake in Apulki Healthcare, India's first public-private partnership for cancer and cardiac care hospitals. This strategic move aims to provide a comprehensive suite of integrated diagnostic services for patients. Yash Mutha, the joint managing director, highlighted the investment's significance in enhancing their position within the expanding healthcare sector. The funding will come entirely from internal accruals, ensuring no impact on cash flow. The collaboration will also cater to the rising demand for advanced diagnostics among urban retail patients.Read more

01 Oct 2024

The Noida Authority has launched a comprehensive scheme to establish six new hotels across the city, catering to the growing market demand. This initiative aims to bolster the city's hospitality infrastructure and strengthen its position as a thriving commercial and tourist destination. The scheme includes plots for three budget hotels and three star-category hotels, located in strategic sectors. The allotment process will be conducted through an e-auction, and the Authority expects to generate over INR 1,000 crore in revenue from this initiative. Additionally, the Greater Noida Industrial Development Authority has introduced a scheme for BPO and ITES plots, further enhancing the city's business ecosystem.Read more

30 Sep 2024

AIPL Joy District (AJD), launched by Advanced India Projects Limited in Gurugram's Sector 88, is set to be a premier retail and entertainment destination. Strategically located at the intersection of major corridors, AJD will span 1.2 million square feet across four levels, featuring global lifestyle brands, diverse dining options, and entertainment zones. Post-pandemic residential growth in sectors 80-90 has fuelled demand for shopping and dining options, prompting AIPL's commitment to deliver 1.356 million square feet of premium retail space by Q4 2024. The project emphasises luxury, sustainability, and innovation, aiming to redefine the retail experience in Gurugram.Read more

30 Sep 2024

Swiggy, a leading food and grocery delivery platform in India, is attracting significant attention from celebrities ahead of its upcoming Initial Public Offering (IPO). Prominent figures like cricketers Rahul Dravid and Zaheer Khan, tennis player Rohan Bopanna, director Karan Johar, and actor Ashish Chowdhry have invested in Swiggy through the unlisted market, signaling confidence in its long-term growth. Swiggy's expansion into grocery delivery and rapid commerce has bolstered its market position, drawing high-profile backers. This wave of celebrity investment mirrors a broader trend of tech startup interest, as Swiggy gears up for a potentially successful public debut.Read more

27 Sep 2024

Schloss Bangalore Ltd plans to raise INR 5,000 crore through an initial public offering (IPO), which would be the largest in India's hospitality sector to date. The IPO will include a fresh issue of equity shares worth INR 3,000 crore and an offer for sale (OFS) of INR 2,000 crore by its promoter, Project Ballet Bangalore Holdings (DIFC) Pvt Ltd. Backed by Brookfield Asset Management, the company has filed the necessary documents with SEBI. Funds raised will be used to pay off loans and support general corporate purposes, reflecting strong growth in the hospitality market.Read more

27 Sep 2024

OYO, the Indian travel tech platform, has agreed to acquire the Motel 6 and Studio 6 brands from Blackstone Real Estate for USD 525 million. This all-cash deal aims to expand OYO's presence in the US market as it prepares for its IPO. The acquisition includes G6 Hospitality, which manages nearly 1,500 hotels across the US and Canada. OYO plans to leverage its technology and marketing expertise to strengthen these iconic budget hotel chains while operating them as a separate entity. The transaction, expected to close in Q4 2024, marks a significant milestone for OYO's international growth and a successful exit for Blackstone, which more than tripled investors' capital during its ownership.Read more

26 Sep 2024

India's retail sector needs 55 million square feet of premium mall space in the next four years, says a Cushman & Wakefield report. The country's Retail Space Per Capita (RSPC) is much lower than South Asian countries like Indonesia, the Philippines, and Vietnam. Despite increasing consumer demand and more international brands entering the market, the growth of Grade-A malls has been slow. The report suggests that India must boost mall construction by nearly four times the current rate to meet the demand and match Indonesia's retail space by 2027.Read more

25 Sep 2024

Inorbit Malls (India), a subsidiary of K Raheja Corp, has acquired the Akshay Sky Mall in Hubli, Karnataka, from Suresh Enterprises for over INR 400 crore. Covering nearly 650,000 sq. ft., the fully developed mall will launch soon and is already leased to major tenants like Reliance Trends and PVR. Located on Gokul Main Road, it serves the Hubli-Dharwad area, highlighting the growing significance of tier-2 cities in real estate. Rahul Arora from JLL described the deal as a milestone, reflecting increased interest in high-quality retail spaces. JLL advised on the transaction, overseeing zoning and tenant strategy.Read more

24 Sep 2024

Investors in Asia-Pacific are increasingly favouring student housing, co-living, and serviced apartments, as growth in traditional sectors like offices and logistics slows, according to CBRE. These living sector assets which remain underinvested in the region offer better returns and serve as a hedge against inflation. Multi-family properties have become the top investment choice, surpassing offices and logistics. Global funds are targeting student accommodation in Hong Kong and Australia. With rental rates outpacing inflation and central banks expected to lower borrowing costs, the living sector presents significant opportunities especially in markets like Japan, Hong Kong, South Korea, and Singapore.Read more