Commercial real estate sales have significantly picked up over the course of 2022, and demand and absorption seem to have now truly recovered post the pandemic shock suffered by the industry. Marathon Group, a prominent Mumbai-based real estate developer has sold commercial space worth over Rs. 400 Cr this year alone at its flagship commercial project in Lower Parel - Marathon Futurex. The most recent deal was concluded with Central Depository Services (India) Limited, the first listed Indian central securities depository. CDSL acquired an office space measuring over 46000 sqft carpet area on the 34th and 35th floors of the tower for Rs. 163.16 Cr. Earlier this year Kansai Nerolac acquired 23500 sqft at Futurex in a deal worth Rs. 85 Cr and filmmaker Rakesh Roshan's firm FilmKraft purchased 10000 sqft at Futurex in a deal worth Rs. 33 Cr. Marathon Futurex already features some marquee names including Nykaa, LOreal, Zee, CDSL, SBI Capital, IDBI Federal, Invesco, Thomas Cook and more.
"A combination of several factors worked in our favor in concluding this deal. Our project's location - just a 1 minute's walk from Lower Parel station on the Western Railway line, Currey Road station on the Central Railway line, and the Lower Parel monorail station - was a key consideration. With the Deslise road bridge finally set to reopen, even road traffic issues will soon be eased. This enables employers to attract talent from all over the city." said Mr. Mayur Shah, Managing Director, Marathon Group.
Over 7000+ office goers work at Futurex daily with more than 10lac sqft of business spaces already operational. Each floor at Futurex measures up to an enormous 60,000 sqft. Futurex offers flexible end uses - both IT /ITes and commercial space.
"Futurex has large column spans of up to 52' so the floor plans are very efficient. This also means that clients can design the same space in various ways as per their requirements. This has made Futurex the destination of choice for a wide range of companies including MNC headquarters, BFSI, media, and FMCG companies.
The project recently received the Occupation Certificate for floors 31 to 35, with the tower set to top out at 38 storeys, making it one of the tallest commercial towers in the country.
"The easy commute coupled with the great amenities at Futurex including a Starbucks, creche, and a newly opened food court along the incredible views from the offices, especially on the higher floors, also means that people love coming in to work every day making it easier for employers to retain top talent." said Mr. Samyag Shah, Director, Marathon Group.
Futurex boasts of a gold rating by IGBC and helps businesses save energy costs by 20-30% by using a state-of-the-art HVAC system, double-glazed windows, and a cutting-edge building management system. An in-house facilities team manages all maintenance and shared amenities which helps businesses save the cost of deploying their own teams.
On the back of improved sentiments, Marathon has also launched a commercial tower in Mulund called Marathon Milennium and also has plans for a commercial tower at Byculla in a JV with Adani Realty.
Shares of Marathon Nextgen Realty Limited was last trading in BSE at Rs. 243.40 as compared to the previous close of Rs. 250.85. The total number of shares traded during the day was 3405 in over 322 trades.
The stock hit an intraday high of Rs. 249.00 and intraday low of 240.70. The net turnover during the day was Rs. 836925.00.