Real estate developer Rohan Lifescapes Ltd. said it had closed a commercial real estate deal worth ₹202 crore with Polycab India Ltd., in The Ruby, the tallest commercial building located in Dadar, Mumbai.
An area of 55,383.65 sq ft in the 23rd and 24th floors of the building has changed hands in the deal, the firm said. “The transaction is one of the largest outright deals for office spaces in the recent past,” the company said.
The Ruby, a 1.2-million-sq-ft development, which is a joint venture between Ruby Mills and Rohan Lifespaces, has EY India, ARCIL, Axis Bank as the key occupiers.
Harresh Mehta, CMD, Rohan Lifescapes said, “The real estate sector in the south and central Mumbai is picking up. This is directly leading to the prompt revival of commercial real estate space post COVID.”
“Further, as employees are back in offices after a long virtual stint, the real estate segment is expecting a positive impact across all spheres,” he added.