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Max Group enters commercial real estate with the opening of Max Towers on DND

Posted On: 2019-04-12 14:35:41

Max Estates, a subsidiary of Max Ventures & Industries Ltd. (MaxVIL), today announced the opening of its flagship office project - Max Towers located on the Delhi Noida Directway (DND), a few minutes drive from South Delhi business hubs such as Okhla, Nehru Place etc. Built with an investment of nearly Rs 600 Cr, with a super built up area of over 5.5 lakh sq ft, Max Towers includes 19 floors of office space and 4 floors of amenities.

Constructed in a brisk 24 months, Max Towers is a blend of thoughtful design and superior hospitality which helps integrate work and life through its philosophy of "WorkWell". It will house the teams of some of the Max Group companies but will mostly be leased to progressive corporations. The building's anchor tenant - Spaces, the premium co-working brand of one of world's largest co-working company International Workplace Group will be operational shortly.

As Noida's first Grade A+ office building, with the philosophy of "WorkWell", Max Towers will provide its occupants an energy-efficient and green work environment, a technologyenabled smart workspace designed to boost their productivity while they are working and a vibrant food & recreation hub when they want to socialize or take a break. It is the only office building in Delhi-NCR to provide an indoor swimming pool and a comprehensive fitness centre to aid the wellness of employees.

The building will have a culture manager, who will work towards making the building's 130-seater auditorium and its common areas a hub of engrossing activities in culture, management, entertainment, art and more.

With large floor plates and contemporary amenities Max Towers aims to provide a superior and cost effective alternative to South and Central Delhi's business districts which have been over the years, beset with jaded common infrastructure, haphazard construction, choked last mile access and inadequate parking.

Speaking at the inauguration, Sahil Vachani, Managing Director, MaxVIL, said, "We took a calibrated risk when we chose a stressed asset to mark Max Group's presence as a serious real estate player.

Max Towers was originally conceived as a part of a high-end mixed use project called 'Delhi One'. With support and encouragement from Alok Tandon, Chairman & CEO, Noida Authority a separate sub-lease was granted for the Max Towers land, allowing Max Estates to develop the building and accompanying infrastructure and services independently. Developed in a brisk time period of approx 2 years, it is probably the only stressed real estate asset in North India to have witnessed such a speedy revival and completion.

This success provides a fillip to our real estates ambitions and provides a suitable launch pad for bigger commercial projects."

He added "At Max Estates, our aim is to create structures that will set benchmarks for the future. We wanted to create a building that reflects both, our old and new values. Max Towers brings the Group's values of Sevabhav, Excellence and Credibility to the Indian real estate sector, as well as the vision of WorkWell which blends design and superior hospitality creating an environment which integrates work and life, nurturing a more productive, healthier and happier community. We are committed to adding value to our tenants through our offerings, to creating a community, rather than occupants. We are confident that the effort and planning that has gone into the building will reap rich rewards; and that Max Towers will set the tone for all our future endeavours."

Max Estates' other real estates projects include 222 Rajpur, a luxury residential villas community set in the foothills of Dehradun, Uttarakhand and the redevelopment of Max Group's corporate office complex in Okhla, New Delhi.

Shares of Max Ventures and Industries Ltd was last trading in BSE at Rs.45.1 as compared to the previous close of Rs. 45.9. The total number of shares traded during the day was 232 in over 11 trades.

The stock hit an intraday high of Rs. 45.85 and intraday low of 45. The net turnover during the day was Rs. 10473.

Source: Equity Bulls

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