Assotech Realty leases 1.5 lakh sq ft office space to IndiaMART

Assotech Realty leases 1.5 lakh sq ft office space to IndiaMART

In 2019 IndiaMart has recently announced its IPO that has been oversubscribed by up to 36 times. Now they are planning to shift their office to the brand new international level IT park “Assotech Business Cresterra (ABC)” which has a sophisticated and state of the art business facilities. The hub is currently managed with a joint collaboration with CBRE which is also a top company in the facility management services. As per the official statement, the office is supposed to have a seating capacity of up to 2000 employees and is brilliantly located in Sector 135 on the Noida Expressway. The ABC or Assotech Business Cresterra is spread over an area of 1.8 million sq. ft. Around 1.6 million sq. ft. is available for the office spaces across the area in six towers and 75,000 sq. ft of the space is dedicated to retail business. Lemon Tree Hotels brilliantly manages 195 premium service suites in this space also. It is one of the top commercial property that is available for companies to come and settle in, just like IndiaMart is planning to do in the next few months.

Managing Director Mr Neeraj Gulati, in a press conference, has mentioned that "We proudly welcome Indiamart in Assotech Business Cresterra and we are absolutely committed to providing them with the best quality services for a long term and friendly beneficial association. This brand new association will be surely benefitting both the parties with respect to enthusiastic business activities and participation from other business communities". IndiaMart CEO Dinesh Gulati and Director Mr Salil Kumar of the Assotech Realty has agreed upon a deal on 15th July 2019 which gives the company a lease period of 9 years. So this is one of the top commercial news in recent times.

Assotech Realty has already completed the very first phase of this project which allows almost 1.1 million sq. ft. of the area to be used for business purposes. The company has stated that the second part of the project will be completed within the second half of the year 2020. It becomes even more interesting because the State Government has announced the construction of the Jewar Airport. This will make many other office spaces for rent in the coming years.

Another company, Birlasoft which is a part of the CK Birla Group has also leased almost 3 lakh sq. ft of the office space in ABC for their corporate headquarters. Also, office space provider Regus has leased around 16,000 sq. ft of the space for the opening of the business centre. Other companies which have leased a significant amount of office space in the Assotech Business Cresterra include Survey Sampling International with 30,000 sq. ft of space.

The inclusion of IndiaMart to this list of top companies leasing out office space in the Assotech Business Cresterra will surely be a boost to them as more companies will be looking forward to joining them. In the near future, more companies are going to work in a co-working space in Noida which will not only be beneficial for them but also for the area that will lead to development and betterment. Within a few months, IndiaMart will be fully functional in the 1.5 lakh sq. ft of space that they have rented.