M3M India set to lease 1.5 mn sqft of commercial space in FY’25

financialexpress.com:

The commercial real estate market in India is projected to reach USD 106.05 billion by 2029 from USD 40 billion in 2024, with a compound annual growth rate (CAGR) of 21.10% during the forecast period (2024- 2029), according to a report by Mordor Intelligence.

The influx of global companies into India and growing domestic demand are expected to boost rental yields further. Another striking feature is the capital appreciation in commercial properties, ranging from 5-10% in prime locations, which is surpassing the growth rate of residential real estate, making it a preferred choice for investors.

Assessing the growing demand, M3M India — a leading player in the commercial segment in Delhi-NCR, particularly Gurugram — is looking to lease out about 1.5 million square feet of commercial space during the current financial year.

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M3M’s one-million square feet, International Financial Centre (IFC) at prime Golf Course Extension Road is already 100% occupied. Its another high-end 700,000 square feet office space project, Urbana Business Park (UBP), is enjoying 75% occupancy.

M3M’s other commercial projects on SPR – M3M Broadway, M3M Prive, M3M Cornerwalk — are already in high demand due to their prime location, according to the company.

M3M’s IFC also has F&B space of about 200,000 square feet which has been occupied by 50 national & international F&B brands including 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.

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