Clear Bridge Ventures Acquires IT Park and Two-Acre Land for Rs 335 Crore in Mumbai
Venture capital and investment firm, Clear Bridge Ventures has made a significant acquisition in Mumbai’s real estate market. The company has acquired an IT park located in Malad, Mumbai along with a two-acre land parcel for a total of Rs 335 crore. This acquisition highlights the increasing demand for office spaces in India’s commercial hubs.
The property, developed in 2002, offers over 147,000 sq ft of saleable area and includes parking slots for both cars and transportation vehicles. The purchase was completed on August 23, with the buyer paying a stamp duty of Rs 21.86 crore for the registration of the deal.
Clear Bridge Ventures, a player in the venture capital and investment space, specializes in supporting startups and emerging businesses through funding and strategic assistance. The sale was conducted by Property Ventures India, a subsidiary of RK Marbles, which operates under the brand name “4th Dimension.”
The demand for office properties in India has seen a significant surge in recent years. This can be attributed to the rapid expansion of the IT and ITeS sectors, the rise of startups, and the growing trend of hybrid workspaces. The return to physical offices post-pandemic has further fueled the demand for office spaces, as businesses aim to enhance collaboration and innovation. This has resulted in increased leasing activity in key commercial hubs across the country.
The growing demand for office spaces has also grabbed the attention of domestic and international investors. Real estate investment trusts (REITs), private equity firms, and sovereign wealth funds are increasingly focusing on the commercial real estate segment. They are attracted by the stable rental yields and long-term growth prospects offered by such properties.
As the real estate market continues to flourish, it is expected that more investors, both domestic and international, will explore opportunities and make significant investments in commercial properties across India. This trend is likely to contribute to the overall growth and development of the country’s economy, creating new opportunities for businesses and job-seekers in the process.
