Godrej Properties sells 4.35 lakh sq ft BKC office space
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Godrej Properties had partnered with
Both Jet Airways and Godrej Properties, as part of the agreement, will be sharing profits in 50:50 ratio. Jet will also get 2.5 lakh sq ft of area at development cost, while total 1 million sq ft is saleable area.
Pirojsha Godrej, MD & CEO, Godrej Properties, while announcing the deal, said, "We are very happy to have successfully concluded this large and strategically important deal at our project Godrej BKC. This deal will be an important driver of our plans to unlock capital invested in our commercial portfolio and will hasten the pace of our growth going forward."
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According to Cushman & Wakefield, net office space absorption for top eight cities is expected to touch 36.5 million sq ft by the end of 2015; up 18% and 65%, respectively, from absorption in 2014 and 2013.
Image: thinkstock
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