Business Wire India
With leading companies gradually returning to the office, and with commercial real estate showing signs of recovery, Marathon Group, a leading real estate developer in Mumbai, announced the launch of new office inventory at Marathon Futurex, its flagship Grade A commercial tower at Lower Parel, which houses the likes of L'Oreal, Zee, Diageo and other marquee names. Over 10 lac sqft of businesses are operational already and over 7000 employees work at Futurex. The project recently received the Occupation Certificate up to the 31st floor, allowing the creation of new inventory variants.
The commercial real estate sector, which was badly impacted by the pandemic and lockdowns, is now showing green shoots of recovery. A recent JLL report says that India’s net office absorption stood at 4.39 million sq. ft. in Q2 2021, showing 32% YoY growth. Large companies like TCS are not just returning to the office, but also hiring en masse. According to a Financial Express report TCS, Infosys, HCL and Wipro – alone hired approx. 42,000 employees in the first nine months of FY 2021. With vaccinations picking up pace, a JLL report revealed that 75% of employees now want to go back to the office. With 7400 leases up for renewal in the Top 6 cities in India in 2021, commercial real estate transactions are expected to pick up pace.
"The idea was to adapt to the market requirements and have a platter of choices – Futurex now offers large business spaces, optimally sized offices, and even fully furnished offices. We have both sale and lease options as well," said Mr. Mayur Shah, Managing Director, Marathon Group.
Futurex now offers spaces ranging from 800 sq.ft. to an enormous 2,00,000 sq.ft. A single floor at Futurex can accommodate up to 800 workstations.
The Group recently introduced Sky Offices starting from 800 sqft on the higher floors for medium-sized businesses, start-ups, and professionals and has seen a great response so far. The Occupation Certificate for these floors has been received and clients are in the process of starting fit-outs soon.
"We aim to democratize access to premium business spaces. It's a rare and aspirational opportunity for businesses with 15-20 employees to own a Grade A space in a business district. We have seen a good response from business owners from the surrounding areas of Lower Parel, Mahalaxmi, and Worli, who are gradually shifting from a work-from-home model to a work-near-home one. It's also a good investment proposition – the price is less than that of apartments in the surrounding areas with rental yields up to 3x of residential property," said Mr. Samyag Shah, Director, Marathon Group.
Marathon Futurex is located just a minutes walk from Lower Parel station on the western line, Curry road station on the central line and the Lower Parel monorail station, and under 10 minutes from the upcoming metro station. "The unmatched last-mile connectivity to Futurex means that businesses can attract and retain talent from across the city. With the Delisle road bridge set to be completed by end of 2022, connectivity to Western areas of central Mumbai will also improve significantly", said Mr. Samyag Shah.
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 takes care of all maintenance and shared amenities which helps businesses save the cost of having them in their offices. The campus also offers a plethora of amenities including a Starbucks in the lobby, sky gardens, plenty of parking, a grand entrance lobby, high-speed elevators, and more.
To learn more about Marathon Futurex, visit marathon.in/futurex
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