News Point: Salarpuria Sattva has signed a 10-year lease deal with JP Morgan, the global banking and financial services provider, for premium office space at the upcoming Knowledge City project in Hyderabad.
J.P. Morgan will take up 830,000 square feet across 16 floors within one building on the Knowledge City campus, making this deal the single largest real estate transaction in Hyderabad.
The new building is an IGBC certified platinum-rated green building and sets strong standards in terms of sustainability and minimalizing environmental impact.
It will also provide employees with best-in-class infrastructure and work facilities as well as include new-generation amenities such as a fitness centre, crèche, underground car parking facilities, food and beverage outlets and an amphitheater.
Mahesh Khaitan, Director, Salarpuria Sattva Group, said, “We are delighted to sign this deal with JP Morgan. This transaction reaffirms our reputation as a trusted partner for progressive organizations. With our deep expertise in developing and managing corporate real estate, we look forward to building relationships with more such organizations and reshaping Hyderabad’s skyline.”
Kalpana Morparia, CEO, South and Southeast Asia, JP Morgan, said, “Hyderabad is an important hub for JP Morgan and we are excited to be part of this new development. Moving to Knowledge City enables us to consolidate our presence to one location and bring all our employees together. It also further demonstrates our commitment to having best-in-class infrastructure in order to continue to meet our clients’ needs while ensuring we provide exceptional facilities for our employees.”
Knowledge City has been envisioned as one of Asia’s largest and futuristic IT parks and will house several multinational companies such as Novartis Healthcare, Microsoft India, State Street Corporation, Synchrony Financial, Xilinx and EPAM.
CBRE, the world’s largest commercial real estate services and investment firm, was the advisor on the transaction.
