The Summit, a projected business centre, will be 348 feet tall with 28 stories. Sector V’s tallest commercial space will be here. According to corporate officials, the ‘IT block’ at PS Srijan Corporate Park is now 295 feet tall in the area. “The 42,” Kolkata’s tallest residential skyscraper, stands at 853 feet and has 65 storeys. ‘The Summit’ will be the first IT & ITES tower in Eastern India to receive dual accreditation from the Indian Green Building Council for Green Building and Health & Wellness. As the pandemic has passed, businesses are progressively reopening their doors, encouraging employees to work from home.
”The office market is now recovering with Q1 2022 (Jan-March) seeing stable vacancies for the first time in two years. The retail sector attracted the second-highest share of investments at 23 per cent, backed by one major transaction. Investment in the retail sector was the highest since the start of the pandemic. Global investors continue to show strong interest in under construction as well as stabilised retail assets, as they are expecting a revival,” Colliers India managing director, capital markets & investment services, Piyush Gupta, said. Mohta said, the latest commercial project will have 5.25 lakh sq feet space in premium segment and will be completed by 2025.
Institutional investments in Indian real estate remained upbeat in the January-March quarter of 2022 touching USD1.1 billion, over 120 per cent jump from the corresponding period of last year riding on improvement in investors’ sentiment with the opening up of the economy post the third wave of Covid-19 infections, Indian arm of a New York listed investment advisory firm said.