Godrej Fund Management (GFM), the real estate private equity arm of the Godrej Group, has leased 2 lakh sq. ft. office space at Godrej Two, a commercial office located in Vikhroli, Mumbai to AP Moller – Maersk’s business units in Mumbai.
Godrej Two is first of the development assets under GFM’s GBTC I programme and is jointly owned along with Godrej Properties. It is a Grade ‘A+’ office development and a part of the larger mixed use development ‘The Trees’.
‘The Trees’ is a vibrant mix of commercial, hospitality, retail and residential offerings designed to drive innovation and enterprise, said a press release. The larger development is already home to the global headquarters of the Godrej Group and other marquee companies.
AP Moller – Maersk, the $39-bn, Denmark-headquartered integrated container logistics company, brings its seven business units from four different locations under one roof at Godrej Two. This is the largest co-location project that Maersk has undertaken in India.
Maersk will initially occupy 1,40,000 sq. ft. with an option to take additional space post which the total space occupied would be 2,00,000 sq ft. An estimated 1,100 employees will be coming together to work at the new office once this is ready towards the end of 2020.
JLL was the exclusive transaction advisor and has also been appointed as the project manager to complete fit-outs for this office space.
Karan Bolaria, Managing Director & CEO, Godrej Fund Management, said, “We are pleased to welcome AP Moller Maersk as our first partners in Godrej Two and look forward to further strengthening this partnership across our office portfolio.”
Steve Felder, Managing Director, Maersk South Asia, said, “Maersk has a long-term commitment to India and over the period has established several business units across Mumbai. We are now excited to bring most of these business units under one roof which will allow us to collaborate better and continue building constructively on our commitment towards India.”
Manish Bhasin, Managing Director Maersk Procurement, said, “We are striving hard to ensure our employees are well taken care of. With our shift to Godrej Two, we are moving our office space closer to our employees and at the same time, offering them the premium and modern office space to work out of.”