BENGALURU: WeWork Inc on Thursday said it turned a core profit in December for the first time since it went public, helped by cost cuts. The office-sharing firm, which went public in 2021, said for the “first time in WeWork’s history”, the company achieved an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) profitability […]
GURUGRAM: Kanika Roy, an IT professional, was excited when she booked her dream home in Ansal Esencia project in Sector 67 in 2012. But even after 11 years, the Roys have not been able to shift to their apartment despite getting the possession in September 2020. The reason — no new power connection in the […]
BENGALURU: Asset manager Brookfield Corp’s subsidiary is defaulting on loans related to two buildings in Los Angeles, California, a regulatory filing with the U.S. Securities and Exchange Commission showed on Tuesday. The value of commercial office real estate has dropped since the pandemic as companies shift towards remote work, leading to heavy vacancies at full-scale […]
NEW DELHI: Embassy Office Parks REIT (Embassy REIT) has raised a term loan of Rs 1,000 crore from Bajaj Housing Finance, a subsidiary of Bajaj Finance, the company said in a BSE filing. The company will use the proceeds of this debt raise primarily to repay existing construction debt and for general corporate purposes. With […]
MUMBAI: India will continue to be Blackstone Inc’s biggest market in Asia and the private equity giant may consider infrastructure investments there in the future, a top company executive said on Tuesday. The U.S-based firm, which manages nearly a trillion dollars in assets globally, said India is one of its best-performing markets. It is bullish […]
GURUGRAM: Two more towers in the Chintels Paradiso society, where two persons died last year after its Tower D partially collapsed, have been declared unsafe, officials said on Tuesday citing a structural audit report by IIT-Delhi. Towers E and F of the society in Sector 109 are not fit for habitation, Additional Deputy Commissioner (ADC) […]
GURUGRAM: The MCG has verified and collected data of 86,000 properties under the jurisdiction of the civic body. The data of over 1.5 lakh properties could not be collected as 92,065 were vacant plots and 60,730 owners denied to share information with surveyors. “We have collected data of 86,000 properties and now the same will […]
GURUGRAM: The state government has put on hold its ambitious affordable plotted housing scheme — Deen Dayal Jan Awas Yojna (DDJAY) — in Gurgaon and Faridabad, citing high cost of land and its failure to benefit the lower- and middle- income families, TOI has learnt. Prime Minister Narendra Modi launched DDJAY in the state in […]
NOIDA: There has been no electricity in the common area of JKG Palm Court society in Greater Noida West for a week now, complained residents. Claiming the builder has not taken a permanent electricity connection from the power department and runs JKG Palm Court on a temporary one, they protested against the builder on Sunday […]
Maxop Engineering director Shailesh Arora has purchased a 575-square yard bungalow in Delhi’s Golf Links for 68.5 crore, two people familiar with the transaction told ET. Arora purchased the property from Delhi-based Vaishnawi Energy Distribution Pvt Ltd, which had acquired it from Raj Singh Gehlot, the promoter of the Ambience group, for 80 crore. According […]
GURUGRAM: The department of town and country planning (DTCP) has directed the four empanelled structural audit agencies to meet the RWAs of 15 housing societies where residents had complained about construction-related issues. The four audit agencies — Bureau Vertias, TPC Technical Projects Consultants, Vintech Consultants, and NNC Design International — were drafted in by the […]
NEW DELHI: To check fraudulent transactions of properties, eliminate corruption and rule out delays in the registration of properties in rural and urban villages of the capital, the revenue department of the Delhi government has brought all land records on a central server and is making them easily accessible for officials concerned. According to officials, […]
