office realty project in Pune
Real estate developer Kohinoor Group has planned to invest around ₹750 crore to develop an over 1.8 million sq ft commercial office project, Kohinoor World Towers, in Pimpri Chinchwad of Pune. The project will be developed in two phases of 0.9 million sq ft each and the first phase with a 60,000-sq-ft retail space component is expected to be completed in 36 months. Vineet Goyal, MD, informed that the Kohinoor World Towers is being built keeping in mind the work and commercial requirements. The demand for such offices is high and certain large corporations are already in talks with the company for the space. Pimpri-Chinchwad would need about 25 million sq ft area, of which the company expects to cater 10-20% of market share. Kohinoor Group is currently in talks with certain private equity firms and other institutional investors to induct them as financial partners in this project that is expected to generate revenue of over ₹2,100 crore.