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Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
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As of 2019-end, under-construction Grade A office space in the top seven cities is worth more than ₹2.5 lakh crore, said Bappaditya Basu, Chief Business Officer Anarock Commercial.
“Over 25 per cent of this stock (worth over ₹63,000 crore) is available for strata sale (sale of commercial properties like office spaces to investors or business houses). This accounts only for under-construction office spaces - there are also completed and occupied office space owned by investors to consider,” he added.
For Grade A office real estate vertical, we are largely associating with our existing developer clients who have repeatedly asked us to enhance our services beyond residential to sell and market some of their office assets.
“Some office project developers now list between 25-40 per cent of their office supply for strata sales to maintain cash flows for expansion and efficiently consolidate their businesses,” he further added.
Anuj Puri, Chairman – Anarock Group said “Anarock Commercial was a part of our expansion plan, and its launch is a natural next step after our resounding success in the residential sales market, where we have already captured a 10 per cent market share with over 300 successfully marketed residential project mandates.”
He added “We have fine-tuned our proprietary in-house technology and digital platform to extend seamlessly into the office strata sale market. This is a direct response to our customers’ express request for such options. Anarock Commercial will assist businesses and investors in making the ultimate profitability move of owning office spaces outright.”
Santhosh Kumar, Vice Chairman – Anarock Group said “Anarock Commercial operates in all major cities - Mumbai, NCR, Bengaluru, Hyderabad, Chennai, Pune and Kolkata. We have already secured mandates to strata-sell three million square feet of office space in MMR and NCR.”
Apart from the unmatched business benefits of operating from owned premises, office asset ownership has gained significant traction with investors, including NRIs. Depending on the exact location and building facilities, the rental yield ranges from 7-9 per cent for Grade A office assets and between 9-10 per cent for non-Grade A spaces.
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
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