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Private Sector | Telangana - India | PID: 191823
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Value: 650 Crore | Salarpuria Sattva Group, a real estate developer, has acquired a 25 acre land parcel in IT hub of Kokapet, Telangana from Omaxe. The deal is valued at around Rs 650 crore
The acquisition will allow the company to strengthen its commercial portfolio in Hyderabad by adding nine million sq ft of IT development
Salarpuria Sattva Group and Blackstone Group, American private equity firm, had jointly bought 3.3 million sq ft office park owned by Coffee Day Enterprises in a deal valued at around Rs 2,700 crore. The real estate developer, which is building over 13 million sq ft of commercial space in Hyderabad, has leased large spaces to firms including Microsoft, JP Morgan, Intel and Oracle in recent years.
The company plans to expand its commercial portfolio to 24 million sq ft from 15 million sq ft at present over the next two years in Hyderabad and Bengaluru
Apart from this, the firm is also looking to acquiring distressed hotels across India to strengthen its presence in the segment
| Updated on: 29 - Jan - 2020
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