Max Estates leases 80,000 sq ft office space in Noida to Cyril Amarchand Mangaldas
Feb 10, 2021
New Delhi [India], Feb 10 : Max Estates, a subsidiary of Max Group's listed entity Max Ventures and Industries Ltd (MaxVIL), has leased about 80,000 square feet at its flagship grade A office complex Max Towers in Noida to Cyril Amarchand Mangaldas, one of India's leading legal firms.
Built with an investment of Rs 600 crore with a net leasable area of over 5. 3 lakh square feet, Max Towers is a 21-storey commercial office tower which provides an energy-efficient and green work environment, a technology-enabled smart workspace, and a vibrant food and recreation hub.
It also houses a 130-seater auditorium for events, a daycare centre and gymnasium to aid the wellness of employees.
Max Estates has also leased 7,300 square feet. to DBS. Recently, it announced leasing of 62,500 square feet to Yes Bank at Max Towers. In addition, it has leased 25,000 square feet to Indian Energy Exchange (IEX) Ltd, India's first and largest power trading platform.
This takes the total leased area at Max Towers to nearly 90 per cent of the total 5.3 lakh square feet, the company said in a statement.
MaxVIL's other commercial real estate projects include Max House at Okhla Phase 1 comprising 1.05 lakh square feet leasable area. Phase 2 of the project of similar size is targeted to start construction in H1 FY22.
Max Estates recently started construction of its third commercial realty project in Noida to be built at a cost of Rs 400 crore having New York Life Insurance Company as financial partner.
As a part of its strategy to emerge as a leading commercial real estate office player in NCR, Max Estates is evaluating development opportunities in Gurugram as its next destination to fill the deficit in Delhi-NCR of developer-owned and developer-managed office space.
