With sentiment improving for commercial real estate, Marathon Group launches new inventory in Lower Parel flagship project
Update: 07 Oct 2021 17:07 STI
Bombay (Maharashtra) [India], Oct. 7 (ANI / BusinessWire India): As large companies gradually return to office and commercial real estate shows signs of recovery, Marathon Group, one of Mumbai’s leading real estate developers, has announced the launch of a new office inventory at Marathon Futurex, its flagship Class A shopping tower in Lower Parel, home to L’Oreal, Zee, Diageo and other big names.
More than 10 square lakes of companies are already operational and more than 7000 employees work at Futurex. The project has recently received the certificate of occupancy up to the 31st floor, allowing the creation of new inventory variants.
The commercial real estate sector, which has been hit hard by the pandemic and lockdowns, is now showing green shoots of recovery. A recent report from JLL indicates that the net absorption of office space in India was 4.39 million square feet in the second quarter of 2021, showing growth of 32% year-on-year. Large companies like TCS are not only returning to the office, but also hiring en masse. According to a report by Financial Express, TCS, Infosys, HCL and Wipro – alone have hired approx. 42,000 employees in the first nine months of fiscal 2021. With vaccinations accelerating, a JLL report found that 75% of employees now want to return to the office. With 7,400 leases to be renewed in the top 6 Indian cities in 2021, commercial real estate transactions should accelerate.
âThe idea was to adapt to market demands and have a range of choices – Futurex now offers large retail spaces, optimal sized offices and even fully furnished offices. We also have buy and lease options, âsaid Mayur Shah, Managing Director, Marathon Group.
Futurex now offers spaces ranging from 800 sq.ft. to a whopping 2.00,000 sq.ft. A single floor at Futurex can accommodate up to 800 workstations.
The Group recently introduced Sky offices starting at 800 square feet on the upper floors for mid-size businesses, start-ups and professionals and has been very well received so far. The certificate of occupancy for these floors has been received and clients are in the process of starting the fittings soon.
“We aim to democratize access to high-end commercial spaces. It is a rare and ambitious opportunity for companies with 15 to 20 employees to own a category A space in a business district. We have seen a good one. response from business owners in the surrounding areas of Lower Parel, Mahalaxmi and Worli, who are gradually moving from a telework model to a telework model. This is also a good investment proposition – the price is lower than that of the surrounding apartments with rental yields up to 3 times more residential properties, âsaid Samyag Shah, director of Marathon Group.
Marathon Futurex is located a short walk from Lower Parel Station on the West Line, Curry Road Station on the Central Line and Lower Parel Monorail Station, and less than 10 minutes from the next Tube Station. âUnmatched last mile connectivity to Futurex means businesses can attract and retain talent from across the city. With the Delisle road bridge due to be completed by the end of 2022, connectivity with the western areas of central Mumbai will also improve significantly, âsaid Samyag Shah.
Futurex boasts of being rated Gold by the IGBC and helps businesses save 20-30% on their energy costs by using state-of-the-art HVAC, double-glazed windows and state-of-the-art building management system. An in-house facilities team takes care of all maintenance and shared equipment, helping businesses save the cost of setting up in their offices. The campus also offers a plethora of amenities, including a Starbucks in the lobby, hanging gardens, plenty of parking lots, a large lobby, high-speed elevators, and more.
To learn more about Marathon Futurex, visit marathon.in/future
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