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News & Updates

Realty demand up 15% in Q2

The real estate sector saw a growth in demand of 15% in the second quarter of financial year 2009-10, after slowing down to 10% during the first quarter of 2009-10. The rise has, of course, been helped by the base effect of a negative growth in the corresponding quarter of the previous year. This is still way off the 35% to 40% growth witnessed in January to March 2008 in metros. The figures are culled from a cross-sectional survey of the reports of chief real estate tracking firms.

Sanjay Dutt, chief executive officer, Jones Lang LaSalle Meghraj (JLLM), said the Indian commercial office market saw 10 mn sq ft of office space commitment pan-India in top major IT cities, including Mumbai and Delhi. "Of this, the bulk of the demand (almost 70%) came in the second quarter. The supply of commercial properties is all set to touch 55 million sq ft by December, with an expected demand for 25 million sq ft during the period. Moreover, front office space will generate huge demand in comparison with IT parks and SEZ."

Hilton Worldwide launches new corporate identity

Hilton Worldwide (formerly Hilton Hotels Corporation), the leading global hospitality company, today announced the launch of its new corporate name and logo.

Hilton’s new name, Hilton Worldwide, signifies the company’s global breadth and reach, and the logo incorporates key design elements that reflect Hilton’s rich heritage, vision for the future and commitment to excellence in service.

“This is an incredibly dynamic time in our company’s history. On the heels of a successful move into our new global headquarters, we’re excited to launch our corporate identity that better represents who we are today and our aspirations for the company going forward,” said Christopher J. Nassetta, President and Chief Executive Officer, Hilton Worldwide.

The new corporate name and logo follow the company’s recent relocation of its global headquarters from Beverly Hills, Calif., to McLean, Va. These changes have also been mirrored by the internal launch of a refreshed company vision, mission, values and key strategic priorities, which are intended to communicate more clearly how Hilton conducts business and plans to achieve company goals.

Hilton Worldwide’s portfolio of ten brands comprises more than 3,300 hotels in 77 countries around the world. The company will open more than 300 hotels this year.

DLF bags Gurgaon land for Rs 1,750 cr

DLF, the country's largest realty firm, on Thursday bagged a 350-acre plot for Rs 1,750 crore in Haryana for developing a recreation and leisure project, making it one of the costliest land deals in recent times.

"The letter of acceptance has been issued to the successful bidder (DLF) after getting the approval from the state government," Haryana State Industrial & Infrastructure Development Corporation Ltd (HSIIDC) Deputy General Manager Priya Sardana said.

Earlier this week, DLF emerged as the sole bidder for the 350-acre project after the bids of other parties – Unitech and Malaysia-based Consortium comprising Country Heights, Country Club of South Africa and Rajarhat IT Park -- did not qualify on technical grounds.

Twitter, Facebook 'costing British economy £1.38 bn'

In today's world, popular social networking sites like Twitter and Facebook are without a doubt the best way to stay connected with friends and share what is happening right now.

But, a new survey has revealed that the popular sites are actually costing British businesses 1.38 billion pounds a year in wasted time.

In fact, according to the survey, more than half of office workers use the social networking sites like Twitter and Facebook for personal use during the working day, and admit wasting an average of 40 minutes a week each.

One in three of the 1,460 office workers surveyed also said they had seen sensitive company information posted on social networking sites, leading to fears about how workers use the Internet, 'The Daily Telegraph' reported.