Kolkata consortium buys 15 lakh sq ft New Town IT park for Rs 638 crore

Published On : 2024-12-01T01:42:16+0530 [ IST ] | Author : Mayur_Tembhare
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In one of the largest commercial real estate deals in Kolkata in recent years a consortium of two city-based firms inked an agreement to purchase a 15 lakh sq ft IT park in New Town from a Delhi-based real estate

Primarc Techno Park has acquired DLF DLFTechpark 1 one of the largest privately-owned tech parks in the city from DLF Info City Developers. The acquisition includes the cost of the immoveable property and business undertakings like rental, CAM, fit-out, property management and other services being operated

DLF rental business vice-chairman and MD Sriram Khattar said the deal was reflective of the value embedded in the company's core assets created over the years with good quality tenant partners and asset management.

RDB Primarc Techno Park is an affiliate of Primarc and RDB Group while DLF Info City Developers is a wholly-owned subsidiary of DLF Cyber City Developers the rental arm of DLF.

The green building that carries LEED Platinum certification from the US Green Building Council is one of the earliest IT projects in New Town and is a landmark in the satellite township. Situated next to Nazrul Tirtha it is home to global technology leaders like IBM Lexmark and Concentrix.

We have been wanting to expand our commercial portfolio for a while and enter the IT space that is expected to see a good demand from global capability centres. This marque asset provided a good acquisition opportunity. We will benefit immensely from DLF's learnings

The group also plans to develop greenfield projects both in the IT space and in retail. "We will construct malls in Kolkata and Bhopal," he said.

RDB group promoter Vinod Dugar felt the move would strengthen the commitment to support Bengal's economy through projects that prioritize sustainability and excellence.

JLL was the sole transaction adviser to both parties. Fox & Mandal were the legal advisers to RDB & Primarc.

Surekha Bihani senior managing director of JLL India (east & emerging markets) said: "This is not only the largest concluded real estate transaction in Bengal's history but also one of the biggest acquisitions within the state by a Bengal-based company

Debanjan Mandal and Kunal Vajani, managing partners of Fox & Mandal said: "This is a landmark transaction for West Bengal and we are glad to have worked on this acquisition."

Source : Reporters From Sunrise Chronicles

Tags : Info City Developers , Siddharth Pansari , Rs , bengaldlf techpark 1 ," said primarc director siddharth pansari , parklargest commercial real estate deals , Cyber City Developers , Sriram Khattar , Nazrul Tirtha , Concentrix , Group ,

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