City Lights: Ahmedabad tops in office space absorption

In the first three months of 2013,the office market in Ahmedabad seems to have outperformed larger metros like Bangalore,Chennai,Mumbai

Written by Express News Service | Published:April 13, 2013 12:29 am

Ahmedabad tops in office space absorption

In the first three months of 2013,the office market in Ahmedabad seems to have outperformed larger metros like Bangalore,Chennai,Mumbai,Kolkata and Hyderabad in attracting business houses. In the first quarter of the calender year 2013,Ahmedabad saw 1.89 lakh square feet (sq.ft.) of office space been taken up by corporates — especially pharmaceuticals and trading firms — who were looking to expand and relocate their operations,stated a latest report on office spaces by global consultants Cushman & Wakefield (C&W) on Tuesday. This quantum is 90 per cent more than the absorption witnessed in the city between January-March 2012. In comparison to Ahmedabad,cities like Bangalore (-83 per cent),Chennai (-80 per cent),Hyderabad (-29 per cent),Kolkata (-39 per cent) and Mumbai (-38 per cent) registered a decline in growth during the same period. However,cities like Pune (8.42 lakh sq ft),Mumbai (8.1 lakh sq ft) and National Capital Region (7.75 lakh sq ft) were much ahead as far as the total quantum of office space leased or sold during the three-month period was concerned.

RICS,Amity join hands to open school for realty,construction

The Royal Institution of Chartered Surveyors (RICS) has announced tie-up with Amity University to open a school for specialised degree courses in real estate,construction and infrastructure. Amity has provided the infrastructure facility at its Noida campus for the new institution ‘RICS School of Built Environment’,while RICS has developed the curriculum. RICS,the world’s leading professional qualification and standard setting body in land,property and construction sector,claimed that it is the first such school globally that it is set up. The institute would start the first batch from July with 135 students. It will offer a range of academic degree programmes including BBA/MBA in Real Estate and Urban Infrastructure and MBA in construction project management. “This is specialised school which will address the skill gap in real estate,construction and infrastructure sectors. This is industry-led academic institution and will address the crying need of industry for skilled professionals,” RICS South Asia Managing Director Sachin Sandhir told reporters here. The fees for BBA is Rs 1.5 lakh per annum and Rs 2.5 lakh annually for MBA.

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