Business conglomerate Max Group has forayed into the NCR commercial real estate. In one of its first ventures, the company has invested Rs 600 crore to develop a prime office building in Noida.
The move comes as a part of Max Group’s strategy to create a large portfolio of rental assets. The latest investment project comprises of 6 lakh sq ft area.
The company had acquired this project from the real estate firm, The 3C Company, a few years back. The project cost has been funded through a mix of internal accrual and debt. The structure of this Max’s landmark project has been constructed by L&T, while UK’s Gensler was the principal architect.
“About 70,000 sq ft area has been provided for food and beverages and other amenities in this building like swimming pool, library bar and a 150-seater auditorium that will host some of the best cultural events in town,” News 18 quoted Max Estates’ COO Arjunjit Singh as saying.
Keeping the essence of Max Group’s dominance in healthcare alive, the project is expected to have the provision of best-in-class wellness services including chiropractic services focusing on diet, lifestyle coaching, ergonomics coaching, postural assessment, and injury prevention.
Max Group comprises three holding companies, Max Financial Services, Max India and MaxVIL, out of which MaxVIL has formed a separate subsidiary, Max Estates Ltd., to undertake real estate projects. In fact, Max Estates has already delivered a residential project in Dehradun comprising 22 super luxury villas with a price tag of Rs 4.5 crore each.
The company also has plans to redevelop a commercial project at Okhla in NCR. Going forward, Max Estates is expected to focus on owning a large portfolio of annuity-based real estate projects. It aims to become a specialized office space player in the coming years with a niche of its own by paying more attention to the softer aspects of workplace standards, such as the focus on wellness, co-working, healthy work-life balance, etc.