By Accommodation Times Bureau
Leading real estate developer, Salarpuria Sattva, on August 9, signed a 10-year lease deal with J.P. 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.
According to the official, the project is set to be ready by 2020.
The new building is an IGBC certified platinum-rated green building and sets strong standards in terms of sustainability and minimalizing environmental impact.
Mahesh Khaitan, Director, Salarpuria Sattva Group, said, “We are delighted to sign this deal with J.P. Morgan. We look forward to building relationships with more such organizations and reshaping Hyderabad’s skyline.”
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.
Kalpana Morparia, CEO, South and Southeast Asia, J.P. Morgan, said: “Hyderabad is an important hub for J.P. Morgan and we are excited to be part of this new development.”
CBRE, the world’s largest commercial real estate services and investment firm, was the advisor on the transaction.