Country for PR: United Kingdom
Contributor: PR Newswire Europe
Thursday, January 14 2021 - 02:11
Panchshil Office Parks Commissions Phase II of Panchshil Business Park at Baner-Balewadi in Western Pune's Business District
PUNE, India, Jan. 13, 2021 /PRNewswire/ AsiaNet/ --

- Qualys, VMWare & Veritas amongst the latest anchor occupiers to lease office 
space there

    Panchshil Office Parks — a unit of Pune-based Panchshil Realty — today 
announced the commissioning of Phase II of Panchshil Business Park located in 
western Pune's prime business district of Baner-Balewadi. 

    T-Systems, the first anchor occupier has taken up 419,000 square feet of 
office space here and the new anchor occupiers expected to go live 
progressively in the coming weeks include: 

    - Qualys – 281,000 square feet
    - Veritas – 273,000 square feet
    - VMware – 189,000 square feet 

    The new anchor occupiers join leading companies like T-systems, Siemens, 
Fundtech, Thyssenkrupp, Nutanix, Redbrick and The Executive Centre, who have 
all leased space for their long-term requirements in Phase II of Panchshil 
Business Park which encompasses an area of 1.6 million square feet and is 
jointly developed and owned by Panchshil Realty and Blackstone Real Estate 

    Spread over 2.7 million square feet, Panchshil Business Park is 
strategically located just off the arterial Mumbai-Bengaluru highway. Phase I 
spread over 1.1 million square feet was developed by Panchshil Realty and sold 
to Cummins for its India headquarters. 

    Atul Chordia, Chairman, Panchshil Realty, said, "I am delighted to announce 
the commissioning of Phase II of Panchshil Business Park and am pleased to 
welcome our occupier-partners.  The strong leasing success for our office 
spaces at Panchshil Business Park and the continued uptake of our projects by 
marquee corporate occupiers, coupled with the keen interest in our upcoming 
projects indicates the continued attractiveness and resilience of the Pune 
office market and the superior Panchshil offering.  This trend pretty much 
mirrors the significant traction seen in the recent past in some key office 
markets in the country. We expect leasing activity and occupier-demand for our 
pipeline and current offerings to continue to remain buoyant and robust in the 
coming months too". 

    Key highlights of Panchshil Business Park include:

    - It has been awarded the pre-certification for LEED Gold by the U.S. Green 
Building Council (USGBC) which is an internationally acclaimed green building 
sustainability rating. 
        - The mission of LEED--the leading program for green buildings and 
communities worldwide- is to transform the way buildings and communities are 
designed, built and operated, enabling an environmentally and socially 
responsible, healthy, and prosperous environment that improves the quality of 
    - It is assessed, audited and certified by the British Safety Council as 
having implemented, proper and adequate policies, procedures and arrangements 
relating to control of COVID-19 within the workplace, in accordance with the 
Indian government and British Safety Council guidelines
        - Notably, Panchshil Realty was the first real estate group in India 
and in the entire Asia-Pacific Region to have benchmarked and independently 
validated its COVID-19 related control measures at its workplaces.
    - Business support amenities provided include an expansive 80,000 square 
feet multi-cuisine food court, auditoriums, a health club, a range of F&B and 
lifestyle outlets and multi-level parking space.

    Panchshil Office Parks

    Panchshil Realty's office portfolio in Pune comprises over 17.5 million 
square feet of landmark projects like EON Free Zone, World Trade Centre, 
Business Bay and the International Convention Centre and, its campuses are home 
to leading global corporations like Allianz, Citibank, Cognizant, Concentrix, 
Credit Suisse, Deutsche Bank, HSBC, MasterCard, Michelin, UBS and Vodafone 
among many others. 

    Panchshil's Businesses – Key Highlights
    - Panchshil Realty's total completed real estate portfolio is around 23 
million square feet with another 20 million square feet under development. 
    - Panchshil Realty's three main business verticals comprise commercial 
office spaces, hospitality and residential.
    - A significant chunk of Panchshil Realty's office portfolio is anchored by 
Blackstone Real Estate Private Equity Fund, sponsored and managed by Blackstone 
Group LP.

    About Panchshil Realty

    Established in 2002, Panchshil Realty is one of India's finest luxury real 
estate brands. Renowned for leadership and excellence in real estate 
development, the Group's approach is focused on planned development, creating 
value assets, and crafting lifestyle experiences through design and 
architecture. For more information, please visit 


    Source: Panchshil Realty