Realty boost: Godrej leases 2 lakh sq ft space in Mumbai’s Vikhroli area to Danish logistics firm

In one of the biggest commercial realty deals in recent times, Godrej Fund Management, the real estate arm of Godrej Group, has leased two lakh square feet office

In one of the biggest commercial realty deals in recent times, Godrej Fund Management, the real estate arm of Godrej Group, has leased two lakh square feet office space at Vikhroli for five years to Denmark-based logistics firm A P Moller-Maersk.

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The deal is worth Rs13.09 crore, which is the rent mentioned in the lease agreement, a copy of which is with HT. However, the document does not mention the period for which the amount is to be paid.

The deal assumes significance as the real estate sector has been hit hard by the lockdown enforced to curb spread of Covid-19.

A P Moller-Maersk is likely to move into the space with 1,100 employees in December 2020, when the project, Godrej Two, is expected to be ready. The Danish company will initially occupy 1.40 lakh square feet area, with an option to take additional space in future.

“With our shift to Godrej Two, we are moving our office space closer to our employees and at the same time, offering them the premium and modern office space to work out of,” said Manish Bhasin, managing director, Maersk Procurement.

Karan Bolaria, managing director and CEO, Godrej Fund Management, said, “We are confident that our product is future ready and caters to the ever changing needs of multinational corporations operating in India.”