Hindustan Construction Company (HCC) which is country’s leading construction firm has declared that it will soon strip its stake. The firm revealed the fact that it will divest its major proportion of investment, i.e. 74% of its stake in various other projects.
At present, the firm’s focus is the project called 247Park. This project lies in Mumbai and this project is expected to work as a milestone for the company’s business destination. IL&FS Milestone Fund are the ones from which firm has striped stake.
The ‘247Park’ will be the hugest standalone LEED Gold certified green building in India. The total estimated value of this Park is Rs. 775 cr. The project is spread over an area of 1.8 million square feet. While Vikhroli seems to acquire a good position in the ranking of business corridors in Mumbai, this ‘247Park’ is located at the heart of Vikhroli. This project was completed in March, 2010 and in just a couple of months, its more than 85% of space has already been leased.
According to Mr. Rajgopal Nogja who is the President of HCC Real Estate Ltd., HCC has finished the project in time without compromising on the high standards of the project.
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JLLM and WIPRO Come Together.
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Real estate consulting company Jones Lang LaSalle Meghraj (JLLM) has signed a big contract with a country’s major information technology company Wipro for managing its 2.3 million square feet of office space in Bangaluru, Mumbai and Mysore.
Wipro is the third largest exporter of the country of information and technology whereas with global revenue of $2.5 billion in the last year, Jones Lang LaSalle serves clients in over 60 countries from750 locations across the world, including 180 corporate offices. The firm is a forerunner in property and corporate facility management services, with a portfolio of approximately 1.4 billion sq ft worldwide.
The statement issued by JLLM contained “Riding high on its recent successes with Indian corporates such as Max India Group and Lavasa (of HCC group), Jones Lang LaSalle’s Integrated Facilities Management India team has won a facilities management contract with another Indian corporate giant – Wipro Technologies”.
“There is a vastly increasing demand for professional integrated facilities management services in India,” said Yash Kapila JLLM’s Integrated Facilities Management MD.
The coming together of two big corporations is a good sign for the industry.