Max Estates leases 80,000 sq ft office space to Cyril Amarchand Mangaldas

Max Estates on Wednesday said that it has given on lease around 80,000 sq ft of space at its flagship office complex Max Towers Noida to law firm Cyril Amarchand Mangaldas (CAM). The real estate developer has also given on lease around 7,300 sq ft to DBS Bank.

The company, a subsidiary of Max Ventures & Industries (MaxVIL), had recently given on lease around 62,500 sq ft office space at Max Towers to Paytm. It also gave on lease around 25,000 sq ft to Indian Energy Exchange (IEX). Other occupiers include Kama Ayurveda, Khaitan & Co, Delphix, Spaces (co-working) and French multinational Veolia.

The company said that post the leasing out to CAM, the total area given on lease at Max Towers is around 90%. Built with an investment of about Rs 600 crore with a net leasable area of over 5.3 lakh sq ft, Max Towers is a 21 storey Grade-A commercial office tower in Noida.

MaxVIL managing director & CEO Sahil Vachani said Max Tower’s strategic location, world-class amenities and above all well-curated experience focusing on all aspects of the occupiers’ well being powered by company’s ‘workwell’ philosophy are the key drivers for this choice. “In addition, competitive rentals compared to other mainstream office locations in Delhi-NCR, better local infrastructure and growth prospects of Noida are some key reasons for this increased Grade-A office space demand in Noida,” he added.

While sharing the plan for their new office, CAM managing partner Cyril Shroff said: “CAM Delhi will be shifting to Max Towers Noida in June. This is a newly built, ultra-modern building and our office will incorporate the latest concepts in office design. These include special spaces for informal exchanges and hot-desking for lawyers who are mainly working from home”.

Max Estates also aims to create, build and operate premium office spaces in Delhi-NCR. The company has so far delivered two commercial projects in NCR — Max Towers, Noida and Max House in Okhla, New Delhi.

Recently, Max Estates started construction of its third commercial project in Noida to be built at a cost of `400 crore with New York Life Insurance Company as the financial partner. It is also evaluating development opportunities in Gurgaon as its next destination to fill the deficit in Delhi-NCR, of developer owned and developer managed office space.