Industry

Golflinks Software Park acquires office properties in business park Embassy GolfLinks for Rs 341 crore


Golflinks Software Park, a joint venture between the Kelachandra Group and the Embassy Group, has acquired office properties spread over 170,000 sq ft in business park Embassy GolfLinks for Rs 341 crore.

The properties were bought across two towers, Sun River and Augusta, from the personal holdings of Embassy Group owner Jitu Virwani and two other investors — Narpat Singh Choraria and S Shivashankarappa, according to a document shared by real estate data analytics firm Propstack.

Golflinks Software Park has recently concluded these transactions for the office space with three private individuals, the company said in an emailed response to ET’s request for comment.

Incorporated in 2000, Golflinks Software Park has developed the Embassy Golflinks software technology park on Bengaluru’s Inner Ring Road.

This is one of the oldest and largest business parks in Bengaluru.

In this 60-acre park, Embassy Golflinks and Golflinks Software Park now own around 2.9 million sq ft and count IBM, Facebook and Dell among their key clients.

The total development is 4.7 million sq ft and is fully occupied.

The Embassy Group has a portfolio of more than 62 million sq ft of prime commercial, residential, and industrial space in India. The group is also a co-sponsor of India’s first listed real estate investment trust (REIT).

The group has around 1,000 acres of land bank mostly in Bengaluru and 28 million sq ft built-up area under construction across segments.

Bengaluru recorded office leasing activity of 4.8 million sq ft in the September quarter, a fourfold sequential rise, driven by large-scale term renewals, according to real estate consultancy firm Cushman & Wakefield.



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