Marathon Group launches new inventory in Lower Parel flagship project
Last Updated on, October 27th, 2022
With commercial real estate sentiment improving, Marathon Group launches new inventory in Lower Parel flagship project.
With leading companies gradually returning to the office, and with commercial real estate showing signs of recovery, Marathon Group, a leading real estate developer in Mumbai, announced the launch of new office inventory at Marathon Futurex, its flagship Grade A commercial tower at Lower Parel, which houses the likes of L’Oreal, Zee, Diageo and other marquee names. Over 10 lac sqft of businesses are operational already and over 7000 employees work at Futurex. The project recently received the Occupation Certificate up to the 31st floor, allowing the creation of new inventory variants.
The commercial real estate sector, which was badly impacted by the pandemic and lockdowns, is now showing green shoots of recovery. A recent JLL report says that India’s net office absorption stood at 4.39 million sq. ft. in Q2 2021, showing 32% YoY growth. Large companies like TCS are not just returning to the office, but also hiring en masse. According to a Financial Express report TCS, Infosys HCL and Wipro– alone hired approx. 42,000 employees in the first nine months of FY 2021. With vaccinations picking up pace, a JLL report revealed that 75% of employees now want to go back to the office. With 7400 leases up for renewal in the Top 6 cities in India in 2021, commercial real estate transactions are expected to pick up pace.
“The idea was to adapt to the market requirements and have a platter of choices – Futurex now offers large business spaces, optimally sized offices, and even fully furnished offices. We have both sale and lease options as well”
– Mr. Mayur Shah, Managing Director, Marathon Group.
Futurex now offers spaces ranging from 800 sq.ft. to an enormous 2,00,000 sq.ft. A single floor at Futurex can accommodate up to 800 workstations.
The Group recently introduced Sky Offices starting from 800 sq.ft. on the higher floors for medium-sized businesses, start-ups, and professionals, and has seen a great response so far. The Occupation Certificate for these floors has been received and clients are in the process of starting fit-outs soon.
“We aim to democratize access to premium business spaces. It’s a rare and aspirational opportunity for businesses with 15-20 employees to own a Grade A space in a business district. We have seen a good response from business owners from the surrounding areas of Lower Parel, Mahalaxmi, and Worli, who are gradually shifting from a work-from-home model to a work-near-home one. It’s also a good investment proposition – the price is less than that of apartments in the surrounding areas with rental yields up to 3x of residential property”
– Mr. Samyag Shah, Director, Marathon Group
Marathon Futurex is located just a minutes walk from Lower Parel station on the western line, Curry road station on the central line and the Lower Parel monorail station, and under 10 minutes from the upcoming metro station.
“The unmatched last-mile connectivity to Futurex means that businesses can attract and retain talent from across the city”
– Mr. Samyag Shah
Futurex boasts of a gold-rating by IGBC and helps businesses save energy costs by 20-30% by using a state-of the art HVAC system, double glazed windows, and a cutting-edge building management system. An in-house facilities team takes care of all maintenance and shared amenities which helps businesses save the cost of having them in their offices. The campus also offers a plethora of amenities including a Starbucks in the lobby, sky gardens, plenty of parking, a grand entrance lobby, high-speed elevators, and more.
To learn more about Marathon Futurex, visit marathon.in/futurex
About Marathon Group –
Marathon Group is a 52-year-old Mumbai based real estate development company that has completed over 80 projects in the city. The group is proud to have provided homes for more than 5,000 families, retail space for 400 retailers and offices for 350 businesses.
Marathon is currently building several townships in the fastest growing neighborhoods, affordable housing projects, ultra-luxury skyscrapers, standalone towers, small offices and large business centers, with projects spread across the Mumbai Metropolitan Region (MMR), with over 18mn sqft of land currently under development, and a plan to deliver more than 15000 homes in the next 5 years.