Page 52 - January_2023

TICKER TAPE
CONSTRUCTION L&T Factories business has bagged a contract from renowned AA Holdings, an industrial and warehousing development and
L&T BAGS CONTRACTS FOR DATA CENTER
AA HOLDINGS JOINS HANDS WITH AVINYA INDUSTRIAL
AND LOGISTIC PARK TO DEVELOP AND INVEST IN
CONSTRUCTION
WAREHOUSING IN INDIA
data centre service providers to construct data centres with a total
capacity of 10.8 MW in Mumbai and Navi Mumbai.
funding firm helmed by real estate veteran Abhijeet Verma, today
This project’s scope involves the design, build, supply, installation,
announced a tie-up with Avinya Industrial & Logistics Park, a
and T&C works for the data centre and allied buildings including
logistics development company, to develop quality warehousing
fit-outs. It also comprises systems such as the HVAC, elevators,
country. Through this partnership, both the entities aim to develop
electrical, fire fighting systems, public health engineering,
networking & security systems, building management system, infrastructure to small landlords and aggregators across the
20 million square feet of land parcels across the country in the next
site development, road, boundary wall, landscaping, etc, the 3 years, in order to meaningfully contribute to building a grassroots
company said in a press release on Monday. warehousing ecosystem.
Additionally, B&F has received a repeat order from a famous client The JV will play a key role in furthering the development of the fast
to build commercial office space in Hyderabad with a built-up growing warehousing infrastructure in the country which is currently
size of almost 1 million square feet. The Madhya Pradesh State limited to only top 8-10 cities. This will enable local landlords and
Tourism Development Corporation has given the company an aggregators to acquire the necessary skill sets and knowledge
order for the engineering, purchasing, and construction of the to attract the right customers and properly utilize their real estate
Adi Shankaracharya statue known as the “Statue of Oneness” at assets as India looks forward to becoming a $5 trillion economy.
Omkareshwar in the Khandwa district of Madhya Pradesh. Since 2011, the demand for industrial and warehousing properties
The statue will have a bronze exterior supported by a stone lotus increased significantly with the entry of multinational corporations
petal base that sits above an RCC pedestal. The statue will be and over the years, this has also led to the transformation of the
108 feet tall when measured from the base, or the paduka, to sector through the development of Grade A assets. In terms of
the pinnacle. The project is expected to be finished in 15 months. transaction volume as well, the industrial and warehousing market
in USA witnessed transactions of 20.4 million sq m during 2020,
KEYSTONE REALTORS INKS PACT TO JOINTLY DEVELOP seven times that of India in FY2021.
1.5-ACRE PLOT IN MUMBAI’S MAHIM This necessitates empowering small and micro landlords,
Keystone Realtors has executed joint development agreement aggregators to have a wide selection of properties waiting
with Raj Doshi Exports to develop a parcel of land admeasuring to be brought to the market and empower them to start their
about 6,067.96 square meters situated at Mahim, Mumbai, entrepreneurial journey and utilize this sector to reap rich
Maharashtra.The development being undertaken will lead to sale dividends. provides opportunities. According to a report by
potential of approximately 2,85,000 sq. ft of RERA carpet area. property consultant Colliers, the gross absorption of industrial
This new development marks the group’s entry into Mahim after real estate in India’s top 5 cities during the first 6 months of 2022
successfully developing many gated communities and townships stood at 10.8 million sq ft, with the highest activity in Delhi and
across various locations in the Mumbai Metropolitan Region. The NCR at 28%. About 55 per cent of the gross absorption was led
project is expected to be launched in CY 2023, the company by third-party logistics players, followed by the engineering and
added. As of 30 June 2022, the company had developed 20.22 automobile sectors with a share of 12 per cent each.
million sq-ft (msf) area including infrastructure spread across 32 However, the report also revealed that supply has declined by
projects or 280 building and home to over 14,000 families. The 24% in the last 6 months to around 11.8 million sq ft across 5 cities
company has 12 ongoing projects and 21 forthcoming projects in the first half of 2022, opening a window of opportunity for local
across the MMR, all under the Rustomjee brand. players and the AA space . At the forefront of enabling small and
micro real estate players to outpace the organized segment of
CDSL BUYS 46,000 SQ FT OFFICE IN MUMBAI’S LOWER the real estate industry.
PAREL FOR `163 CRORE
Central Depository Services Ltd (CDSL) has acquired two floors M3M INDIA PURCHASES 1.3-ACRE LAND IN GURUGRAM
of office space measuring over 46,000 sq ft carpet area in FOR `200 CRORE
commercial tower Marathon Futurex in Mumbai’s Lower Parel M3M India has purchased 1.3-acre land parcels in Gurugram
business district for `163 crore. The depository services company for around `200 crore in order to construct a luxury commercial
has paid stamp duty worth `9.79 crore for the registration of the building, predominantly retail space. The site was purchased at an
deals that took place on December 14. auction held by Haryana Shahari Vikas Pradhikaran and is close to
As part of the deal, CDSL will also get exclusive access to a total IFFCO Chowk (HSVP). The project will cost `250 crores. This project’s
31 car parking slots in the commercial complex, showed the top line is anticipated to be $1 billion
documents accessed through CRE Matrix, a real estate data The project will include office space, a multiplex, and retail space.
analytics firm. The developer Marathon Nextgen Realty has also According to the firm, the price of the land is comparable to that
launched a commercial tower in Mulund suburb of Mumbai and is of Lutyens’ Delhi.
planning another commercial tower at Byculla in Central Mumbai M3M Group recently paid `827.41 crore at an auction for a 13-acre
through a joint venture with Adani Realty, the listed company said plot of property in Noida. Including rent and registration fees, the
in a regulatory filing. transaction will cost a total of `1,200 crore.

52 CONSTRUCTION OPPORTUNITIES|JANUARY 2023