Max Ventures & Industries Limited (MaxVIL), one of the three listed companies of the $4-Bn Max Group, has announced today that Max House – Phase 1 is now 100% leased out to marquee domestic and international clients. Its flexible managed office offering at Max House under the name of WorkWell suites is fully signed up as well.
Max House is the 2nd Grade A+ commercial real estate offering by Max Estates. Max House is located at the epicenter of the Secondary Business District of Delhi, Okhla, offering prime real estate spread across 8office floors. It witnessed strong interest and leased out completely during Q3FY22 at a significant rental premium to its micro market. Average rental rate for Max House Phase 1 now stands at ~ Rs. 125 per square feet per month.
Samsung India Electronics Pvt. Ltd., Nykaa Fashion Pvt. Ltd., Religare Enterprises Ltd., DSK Legal, and Dhampur Sugar Mills Ltd. are some of the key occupiers. The latest addition to the marquee list includes one of the largest US based retail companies– Target Sourcing Services India Pvt. Ltd. which will occupy 26,608 Sq. Ft. at Max House. The lease with Target Sourcing has been registered yesterday.
MD and CEO, MaxVil, Mr. Sahil Vachani, shared “There is an increasing trend of flight to quality, with top-notch companies upgrading to Grade A+ spaces post the pandemic. Organisations are choosing well maintained contemporary office complexes like Max House that offer better employee well-being and the best of amenities. As a Grade A+ office space player that provides an unparalleled experience through our unique WorkWell philosophy, Max Estates has witnessed a surge in interest and leasing for both its current assets. In addition to completion of 100% leasing at Max House, Max Towers is also now 98% leased to leading domestic and international organisations.”
Apart from these, it also houses its flexible office offering, WorkWell Suites, which is a part of Max Asset Services (MAS). MaxVil is also happy to announce that all the 219 seats offered at WorkWell suites have now been signed up. Witnessing strong interest in this segment, the company will be launching WorkWell suites in the upcoming projects as well.
Work on Phase 2 of Max House, Okhla is on track and the project is expected to be delivered by Q3FY23. Phase 2 would be ~40%larger than phase 1, with total leasable area of 1.45 lacs square feet. It will be similar to phase 1 in terms of overall excellence in quality and experience. Both phases will be supported by an amenities block housing a full suite of amenities including Food Court, Day Care, Fitness Centre and spaces to enable community, collaboration and innovation.
About Max Ventures & Industries Limited (MaxVIL):
MaxVIL
Max Ventures & Industries Limited (MaxVIL), a part of the leading Indian multi-business conglomerate Max Group, owns and operates a real estate business through its 100% subsidiary, Max Estates. MaxVIL also has a real estate services & management company – Max Asset Services. MaxVIL is listed on NSE and BSE.
Max Estates Limited
Established in 2016, Max Estates Limited is the real estate arm of the Max Group and a wholly owned subsidiary of MaxVIL. Its vision is to bring the Group’s values of Excellence, Credibility and Sevabhav to the Indian real estate sector. Its marquee projects include a one-of-its-kind commercial office space Max Towers, on the edge of South Delhi that opened its doors in 2019, Max House – a re-development of office campus and 222 Rajpur, a luxury residential villa community on Rajpur Road, Dehradun. It aims to create, build and operate Grade A+ office spaces in Delhi-NCR. The company has entered into a partnership with New York Life Insurance Company (NYL) for its 3rd commercial project in Delhi-NCR named Max Square.
Max Asset Services Limited (MAS)
Max Asset Services Limited focuses on providing real estate as a service in the form of facility management, community development and managed offices. It aims to bring life into buildings by implementing the Max Estates’ WorkWell philosophy through amenities and ‘Pulse’, which focuses on curating engaging events for office tenants.
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Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.