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Lanco Appoints Cushman & Wakefield As Project Marketing Partners
Posted by Pradeep Sadanapalli | June 4, 2007 | 1,109 views
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Loading ...Lanco Hills Technology Park (Pvt) Ltd. has appointed Cushman & Wakefield India as Exclusive Project Marketing partners for their prestigious SEZ / Non-SEZ project - Lanco Hills, in Hyderabad. Cushman & Wakefield have won the mandate to exclusively market the first phase of around 3.8 million sq. ft. to begin with.
Lanco Hills located in Manikonda, Hyderabad - a specially demarcated ‘Knowledge Corridor’ by Government of Andhra Pradesh has distinctive SEZ and Non- SEZ areas within the same project. It is also one of the few projects in India, which has already received a gazette notification for its SEZ project from the Ministry of Commerce, Government of India. Lanco acquired the land of 100 acres for the Lanco Hill project from Andhra Pradesh Industrial Infrastructure Corporation through arduous international competitive bid.
Speaking on the appointment, Mr. L.Madhusudan Rao, Chairman, Lanco Group,, said “We plan to create a world class township with expansive IT space that redefines the dynamics of IT development across India and would not only cater to the burgeoning needs of the IT/ITeS sector but also provide an impetus to Hyderabad which is emerging into a prominent IT destination. We are confident that our partnership with Cushman & Wakefield will allow us to capitalize on opportunities and promote the value proposition of our project to the relevant audience.”
As the exclusive project marketers, Cushman & Wakefield in conjunction with Lanco’s marketing team, will help in positioning the product competitively in the marketplace, create pricing strategy through benchmark process, creating customized marketing strategies and tools, ongoing advice on value and demand on a dynamic basis and managing all the steps associated with the lease process.
Mr.S.Pochendar, Director & CEO, Lanco Hills Technology Park Pvt. Ltd., said “We were looking for a company that had International strength and strong national expertise in commercial real estate, an integrated service’s platform as well as outstanding tenant services. Cushman & Wakefield with their value added marketing Services were the ideal partner to meet our project marketing objectives.”
Mr. Ravi Ahuja, National Head, Project Marketing, Cushman & Wakefield India added “We are extremely pleased to be associated with the Lanco Hill project and the tremendous opportunity it offers in the Hyderabad market which continues to witness consistent growth in demand for commercial real estate.”
He further added, “Hyderabad with its proactive government, ability to draw talent from other locations and low cost of living, also continues to attract new companies, while observing expansion of the existing one’s and is expected to witness 60 % growth in demand by 2010. The potential of growth within the cities offers substantial development opportunity. The differentiating aspect will be the quality, services, scalability and flexibility catering to the required specifications of this growing sector.”
Lanco will offer a built up area of over 7.85 million sq. ft. over 12 towers divided equally amongst the SEZ and the non- SEZ areas. While SEZ area covers a built up area of 55, 23,653 sq.ft., the non-SEZ offers a built – up area of about 23,29,723 sq. ft. Each tower is designed to have its distinct Architectural identity with inbuilt amenities and business support services.
These uniquely contemporary workspace towers can accommodate 75,000 and offers 9143 car parks. Each building of Lanco Hills will be self sufficient with business support services like Restaurants, Business Centers, ATM and Computer shops and with recreational options like Dining Areas, Party Halls, Gymnasium, Yoga and Aerobics.
About Cushman & Wakefield:
J.Clydesdale Cushman and Bernard Wakefield founded Cushman & Wakefield as a property management company in New York City on October 31, 1917. Today it is the world’s largest privately held real estate services firm. From the 1960s to 1980s, Cushman & Wakefield began expanding its service lines and geographic reach. Appraisal and financial services units were added.
In 1976, The Rockefeller Group acquired the firm from RCA, one of the original and most prominent tenants of Rockefeller Center. Cushman & Wakefield expanded exponentially as a Rockefeller Group company, becoming a full-service real estate company with over 40 offices across the country during the 1980s. In 1989, The Rockefeller Group further strengthened its position in commercial real estate when Mitsubishi Estate Co. Ltd., one of the world’s largest real estate companies, became its majority shareholder.
By the end of 2000, Cushman & Wakefield had 10,000 employees and 145 offices in 46 countries around the world. Other partnership ventures would later be formed in Australia, New Zealand, and Singapore, among other countries. In 2004, Cushman & Wakefield acquired Stiles & Riabokobylko, Russia’s leading real estate service provider.
SOURCES:
Cushman & Wakefield
Topics: Information Technology, Real Estate |
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