CBRE India has announced the findings of its latest India Office MarketView Report – Q4 2016. As per the findings, India’s office market witnessed an all time high annual absorption of over 43 million sq ft in 2016, registering a growth of 9 per cent on a YoY basis. Supply addition during the year touched 35 million sq ft with India’s office stock reaching a milestone of over 0.5 billion sq ft (as of Q4 2016) – higher than several East Asian economies.
As the lenders not showing much interest, Indian government-owned Air India has extended its $500-million bridge financing offer by one week to July 12. Air India is planning to raise the money to pay for the five Dreamliners, which are to be delivered beginning this month through December. The airline had extended the last date to July 12 from July 5, according to AI sources.
In a bid to prevent the exodus of private road contractors from highway projects, the Union government plans to extend the time required for road contractors to achieve financial closure. This is in case there is a delay in getting the required government clearances.