The vacancy levels in malls have come down to 14.51 per cent in July-September quarter mainly due to decline in supply of new mall space,a recent report said. According to a survey by real estate consultancy firm Cushman & Wakefield,the vacancy levels declined by 0.6 per cent to 14.51 per cent compared to 17.51 per cent in Q2 2012. Cities like Pune,Bangalore,Chennai,Ahmedabad and

Kolkata witnessed a significant decline in mall vacancy levels,while marginal rise in mall vacancy was recorded in Mumbai and NCR. Vacancy levels in Hyderabad,on the other hand remained stable. A total of 7.7 lakh sqft of mall space was added during the quarter,of which 7 lakh in Pune and 70,000 sq ft in Kolkata,the report said.

Dewan gets $85 million from World Bank arm for green housing

World Bank group company IFC said it will extend $85 million in loan to Dewan Housing Finance for affordable and energy-efficient housing. Of the total loan,given with the support of Canada government,IFC will provide $70 million through external commercial borrowing,a press release issued said,adding that the remaining $15 million will come from the IFC-Canada climate change programme to financing green mortgages. The green loan to Dewan will reduce 6,200 tonne carbon emissions per year,the release claimed. “By demonstrating the benefit of green homes,the project is expected to help home buyers in low and middle income segments buy affordable energy-efficient homes,” Serge Devieux,IFC director for South Asia said in the release.

Four Seasons ties up with 3C Company for hotel,branded residences

Leading hotelier Four Seasons has tied up with the 3C Company for a hotel and branded residence project at Delhi One,a mixed-use development in Noida. This is the first property of the Toronto-based hospitality chain in north India and the second in the country. In 2011,the Noida-based realty firm had announced its tie-up with Four Seasons for management of its 300-keys hotel and 180 branded residences,each costing up to Rs 20 crore. Private equity firm firm Red Fort Capital has invested in this project.