AIPL Leased 5 Lakh Square Feet Of Grade A Office And Retail Space In Gurugram

AIPL Leased 5 Lakh Square Feet Of Grade A Office And Retail Space In Gurugram

The Grade A+ office complex ‘AIPL Business Club’, which is owned by Gurugram-based Advance India Projects Limited (AIPL), has leased out roughly 5 lakh square feet of office space, the company announced on June 13. AIPL specialises in creating upscale commercial and residential real estate projects.

With an average lease agreement term of 9 years, AIPL expects that the project will generate yearly rental income of around Rs 50 crore. Over 50,000 square feet of space has been reserved for Kuehne+Nagel, Lummus Technology, Milliman, British Airways, and Deloitte, respectively.

In Sector 62, Gurugram, on Golf Course Extension Road, lies the AIPL Business Club project. It contains a food court, retail establishments, and a total leasable space of about 6,75,000 square feet.

Approximately Rs 320 crore was invested in the project’s development. According to the corporation, it expects rental income of roughly Rs 50 crore every year.

Know The Major Tenants

According to the company, some of its major tenants include Kuehne+Nagel, which has 65,220 square feet of space, Lummus Technology, 52,374 square feet, Milliman, 52,378 square feet, British Airways, 51,409 square feet, Cargill, 35,797 square feet, Brillon Consumer Products, 16,603 square feet, Grupo Bimbo, 16,596 square feet, and Unlimint, which has 14,855 square feet.

According to Ishaan Singh, Director of AIPL, “The complex’s design and architecture have been a crucial factor in attracting corporates looking to expand in Gurugram.” Both LEED gold and GRIHA four star certifications are held by AIPL Business Club.

Over 3.7 million square feet of retail space, over 7 million square feet of premium office space, and almost 800 acres of residential township development spread across Delhi-NCR and Punjab make up AIPL’s broad portfolio.

Source- Moneycontrol

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