Panchshil Office Parks Commissions Phase II of Panchshil Business Park at Baner-Balewadi in Western Pune's Business District

Pune (Maharashtra) [India], January 14 (ANI/PRNewswire): Panchshil Office Parks -- a unit of Pune-based Panchshil Realty -- today announced the commissioning of Phase II of Panchshil Business Park located in western Pune's prime business district of Baner-Balewadi.
T-Systems, the first anchor occupier has taken up 419,000 square feet of office space here and the new anchor occupiers expected to go live progressively in the coming weeks include:
* Qualys - 281,000 square feet
* Veritas - 273,000 square feet
* VMware - 189,000 square feet
The new anchor occupiers join leading companies like T-systems, Siemens, Fundtech, Thyssenkrupp, Nutanix, Redbrick and The Executive Centre, who have all leased space for their long-term requirements in Phase II of Panchshil Business Park which encompasses an area of 1.6 million square feet and is jointly developed and owned by Panchshil Realty and Blackstone Real Estate Partners.
Spread over 2.7 million square feet, Panchshil Business Park is strategically located just off the arterial Mumbai-Bengaluru highway. Phase I spread over 1.1 million square feet was developed by Panchshil Realty and sold to Cummins for its India headquarters.
"I am delighted to announce the commissioning of Phase II of Panchshil Business Park and am pleased to welcome our occupier-partners. The strong leasing success for our office spaces at Panchshil Business Park and the continued uptake of our projects by marquee corporate occupiers, coupled with the keen interest in our upcoming projects indicates the continued attractiveness and resilience of the Pune office market and the superior Panchshil offering. This trend pretty much mirrors the significant traction seen in the recent past in some key office markets in the country. We expect leasing activity and occupier-demand for our pipeline and current offerings to continue to remain buoyant and robust in the coming months too," said Atul Chordia, Chairman, Panchshil Realty.
Key highlights of Panchshil Business Park include:
* It has been awarded the pre-certification for LEED Gold by the U.S. Green Building Council (USGBC) which is an internationally acclaimed green building sustainability rating.
o The mission of LEED--the leading program for green buildings and communities worldwide- is to transform the way buildings and communities are designed, built and operated, enabling an environmentally and socially responsible, healthy, and prosperous environment that improves the quality of life.
* It is assessed, audited and certified by the British Safety Council as having implemented, proper and adequate policies, procedures and arrangements relating to control of COVID-19 within the workplace, in accordance with the Indian government and British Safety Council guidelines
o Notably, Panchshil Realty was the first real estate group in India and in the entire Asia-Pacific Region to have benchmarked and independently validated its COVID-19 related control measures at its workplaces.
* Business support amenities provided include an expansive 80,000 square feet multi-cuisine food court, auditoriums, a health club, a range of F&B and lifestyle outlets and multi-level parking space.
Panchshil Office Parks
Panchshil Realty's office portfolio in Pune comprises over 17.5 million square feet of landmark projects like EON Free Zone, World Trade Centre, Business Bay and the International Convention Centre and, its campuses are home to leading global corporations like Allianz, Citibank, Cognizant, Concentrix, Credit Suisse, Deutsche Bank, HSBC, MasterCard, Michelin, UBS and Vodafone among many others.
Panchshil's Businesses - Key Highlights
* Panchshil Realty's total completed real estate portfolio is around 23 million square feet with another 20 million square feet under development.
* Panchshil Realty's three main business verticals comprise commercial office spaces, hospitality and residential.
* A significant chunk of Panchshil Realty's office portfolio is anchored by Blackstone Real Estate Private Equity Fund, sponsored and managed by Blackstone Group LP.
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