JLL facilitates sale of prime 8 acre land in Pune to Singapore based Mapletree
Lighting

JLL facilitates sale of prime 8 acre land in Pune to Singapore based Mapletree

JLL has facilitated the entry of Mapletree, a Singapore-based real estate developer, in Pune through a mega land deal in the city. Mapletree has acquired a prime 8 acre land parcel for Rs 1.7 billion from Ajanta Enterprise, an SPV held 50 per cent by Vascon Engineers, a real estate construction company.
 
The new owner, Mapletree plans to develop over a million sq ft of world class office space with an estimated project cost of Rs 10 billion. As at 31 March 2019, globally, Mapletree owns and manages S$55.7 billion of office, retail, logistics, industrial, residential and lodging properties, this is Mapletree’s first land deal for development outside of Bengaluru.
 
JLL’s mandate to sell the land parcel included offering end-to-end consulting services as well as managing the entire transaction for both the parties. The capital markets team at JLL facilitated the transaction.
 
Commenting on the development, Sanjay Bajaj - Managing Director, Pune & Oversight – West India, Land & Industrial at JLL said, “Our work on the transaction is an evidence of our active role in shaping the city’s real estate landscape. The transaction also proves that we are the best in the business when it comes to managing multiple mandates from our clients across asset classes.”
 
“The deal in particular is important for Pune’s real estate market, as it offers the region to develop and grow its commercial footprint at the national level. In the past, we have facilitated developers like Kalpataru, Lodha Developers, K Raheja Corp, Prestige, Godrej Properties, Puravankara and many more for their land deals in Pune.”
 
Located close to Pune Airport, the sale of the land in Kharadi will prove to be a big boost to the micro market and to the city’s real estate. Kharadi is now the go-to location for IT/ITeS occupiers in East Pune in addition to other marquee occupiers from core industry segments. Over the last few years, it has become the hub for numerous BFSI occupiers who have acquired space and have up their presence here. Kharadi has a well-established support infrastructure, including numerous residential options across various price points, along with world-class healthcare, hospitality and retail infrastructure within close vicinity.
 
In addition to a planned grid-like road development connecting the micro-market seamlessly, there are other infrastructure initiatives which will extend the access and connectivity to this location.
 
Along with Hyderabad and Bengaluru, Pune has emerged as the favoured city among the IT/ITES companies. The city, according to JLL, has witnessed over 6 million sq ft of leasing activity in 2019.

JLL has facilitated the entry of Mapletree, a Singapore-based real estate developer, in Pune through a mega land deal in the city. Mapletree has acquired a prime 8 acre land parcel for Rs 1.7 billion from Ajanta Enterprise, an SPV held 50 per cent by Vascon Engineers, a real estate construction company. The new owner, Mapletree plans to develop over a million sq ft of world class office space with an estimated project cost of Rs 10 billion. As at 31 March 2019, globally, Mapletree owns and manages S$55.7 billion of office, retail, logistics, industrial, residential and lodging properties, this is Mapletree’s first land deal for development outside of Bengaluru. JLL’s mandate to sell the land parcel included offering end-to-end consulting services as well as managing the entire transaction for both the parties. The capital markets team at JLL facilitated the transaction. Commenting on the development, Sanjay Bajaj - Managing Director, Pune & Oversight – West India, Land & Industrial at JLL said, “Our work on the transaction is an evidence of our active role in shaping the city’s real estate landscape. The transaction also proves that we are the best in the business when it comes to managing multiple mandates from our clients across asset classes.” “The deal in particular is important for Pune’s real estate market, as it offers the region to develop and grow its commercial footprint at the national level. In the past, we have facilitated developers like Kalpataru, Lodha Developers, K Raheja Corp, Prestige, Godrej Properties, Puravankara and many more for their land deals in Pune.” Located close to Pune Airport, the sale of the land in Kharadi will prove to be a big boost to the micro market and to the city’s real estate. Kharadi is now the go-to location for IT/ITeS occupiers in East Pune in addition to other marquee occupiers from core industry segments. Over the last few years, it has become the hub for numerous BFSI occupiers who have acquired space and have up their presence here. Kharadi has a well-established support infrastructure, including numerous residential options across various price points, along with world-class healthcare, hospitality and retail infrastructure within close vicinity. In addition to a planned grid-like road development connecting the micro-market seamlessly, there are other infrastructure initiatives which will extend the access and connectivity to this location. Along with Hyderabad and Bengaluru, Pune has emerged as the favoured city among the IT/ITES companies. The city, according to JLL, has witnessed over 6 million sq ft of leasing activity in 2019.

Next Story
Infrastructure Urban

CONCOR Launches Double-stack Service Between NCR and Varnama

State-run Container Corporation of India (CONCOR) has launched double-stack container train services between the National Capital Region (NCR) and Varnama near Baroda. This initiative aims to facilitate customers at Nhava Sheva near Mumbai, home to Jawaharlal Nehru Port (J N Port). On December 21, the first double-stack container train from Khatuwas and Dadri in NCR reached CONCOR’s Gati Shakti Multimodal Cargo Terminal (GCT) at Varnama, situated along the Western Dedicated Freight Corridor (WDFC). The train carried export cargo destined for J N Port, according to a statement from the state..

Next Story
Infrastructure Transport

Less than 10% of Rs 40 Billion State-aid for Shipbuilding Utilised

A government-sanctioned financial assistance program worth Rs 40 billion, intended to support local shipbuilders over a decade starting in April 2016, has seen minimal utilisation, with only Rs 3.85 billion—less than 10 per cent of the total fund—disbursed thus far. With 15 months remaining before the scheme concludes, its uptake has been limited. The financial aid applies to shipbuilding contracts signed between April 1, 2016, and March 31, 2026. According to a written response provided by Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal to the Rajya Sabha on December ..

Next Story
Infrastructure Transport

Civil Aviation Minister Opens New ATC Tower at Indore Airport

The Minister for Civil Aviation, Ram Mohan Naidu Kinjarapu, inaugurated the new Air Traffic Control (ATC) Tower-cum-technical block at Devi Ahilyabai Holkar International Airport in Indore, Madhya Pradesh. During the inauguration, the minister toured the facility, where ATC experts explained various technical aspects of tracking and coordinating flights from the newly constructed tower. In addition to the ATC tower, the airport has also introduced a zero-waste plant. The union minister confirmed that this initiative aligns with the government’s commitment to sustainability. Minister Ki..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000