M3M India Plans To Lease 1.5 Million Square Feet Of Commercial Space

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The Indian commercial real estate industry is expected to increase at a compound annual growth rate (CAGR) of 21.10% from USD 40 billion in 2024 to USD 106.05 billion by 2029.

It is anticipated that rising local demand and the migration of international businesses into India would increase rental returns even further.

The capital appreciation of commercial real estate, which may reach 5–10% in ideal locations, is another noteworthy characteristic. This growth rate outpaces that of residential real estate, making commercial real estate an attractive option for investors.

M3M India Is A Renowned Player In The Delhi-NCR Commercial Market

M3M India, a major player in the Delhi-NCR commercial market, especially in Gurugram, is evaluating the increasing demand and plans to lease out around 1.5 million square feet of commercial space in the current fiscal year.

The International Financial Centre (IFC) of M3M, located on prestigious Golf Course Extension Road and spanning one million square feet, is fully occupied. Urbana Business Park (UBP), another upscale office building spanning 700,000 square feet, is 75% occupied.

The business claims that because of their great position, M3M’s three commercial developments on SPR, M3M Broadway, M3M Prive, and M3M Cornerwalk, are already in high demand.

M3M Properties Have Many Commercial Spaces In Gurgaon

F&B brands such as Virat Kohli’s One-8-Commune, Japanese Harajuku Tokyo Cafe, Coco Ichibanya, Kofufu, Social, Smoke House Delhi, Starbucks, Taco Bell, Molecule Bar, Anardana, China Garden Café, Daryaganj, Mama Goto, and Soul Barcelona occupy the approximately 200,000 square feet of F&B space in M3M’s IFC.

M3M properties at International Financial Centre (IFC), Urbana Business Park (UBP), Urbana Premium, TEE Point, and Broadway have already been occupied by brands that have been searching for large commercial space, including Snapdeal, Pidge, Square Yards, Knowledge Centre, Anytime Fitness, Urban Ladder, Reliance Digital, and Reliance Trends, to mention a few.

In addition, Wave Cinema is erecting a seven-screen multiplex in 50,000 square feet at M3M Urbana Premium, while PVR is building up an eight-screen multiplex in around 70,000 square feet of space at M3M 65th Avenue, both in Gurugram.

M3M Commercial Buildings Set A New Standard For Commercial Real Estate

In tandem with the expansion of the Indian economy, the commercial real estate market is thriving. The car, retail, textile, food and beverage, cosmetics, FMCG, textile, and furniture industries are the main sources of the increased need for space.

Both retail and office space are needed in these industries. Several national and international businesses have taken up space in M3M commercial buildings since all of the company’s commercial projects are ideally situated near Delhi Airport, Aerocity, Metro, and have great access to expressways and highways.

The growth of the Indian economy, stability in the economy, rising middle-class purchasing power, and growing urbanization are the main factors driving this demand. According to Sudeep Bhatt, National Sales Head of M3M India, “international players are also taking notice of India’s potential and looking for long-term investments in the commercial realty sector.”

Gurgaon Is Become One Of The Biggest Medical Tourism Hub In India

India is poised for greater growth in a number of areas thanks to a stable administration at the center. In the next five to six years, the vehicle industry is expected to rise by 9.7%. By 2027, it is anticipated to reach USD 160 billion. F&B is another industry that is expanding at an 8.5% rate. Additionally, F&B adds almost 3% of India’s GDP.

Modern retail is growing, with an emphasis on e-commerce, even if it is still primarily disorganized. With a compound annual growth rate (CAGR) of more than 13%, the retail industry in India is expected to reach $2 trillion by 2032. From 2024 to 2028, the Indian furniture industry is projected to expand at a compound annual growth rate (CAGR) of 8.17%.

India’s third-largest center for banking and finance as well as its second-largest center for information technology is Gurgaon. One of India’s biggest sectors of the medical tourism industry is based in Gurgaon. Gurugram is being forced to grow further towards the Southern Peripheral Road (SPR) and the Northern Peripheral Road (NPR) because to the rise in demand for real estate.

Source- ET

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