Kore Communities joins hands with SREI
With multiple real estate projects in the pipeline, Kore Communities has entered into a financial arrangement with SREI for the construction of various residential projects in Sector 69, Gurugram. Srei Infrastructure Finance Limited (“Srei”), a Kanoria Foundation entity, one of India’s largest holistic infrastructure institutions with Rs 37,500 crore in assets under management is amongst the first Indian NBFCs to access the international market for funds. They have have invested Rs 450 crore with Kore Communities for a bouquet of projects that include development of a township project.
Kore Communities has already leased out office space to a fortune 500 multinational in Tower 4, Kore Tech Park, a state-of-the-art IT park located in Sector 69, Gurugram, and is in talks with several reputed organizations for providing well designed office spaces for its 2nd phase of Kore Tech Park. Kore Tech Park is the group’s maiden office space project located prominently on Southern Peripheral road, the widest road in Gurugram. The 1st phase of the IT Park, comprising of 3 million sq. feet of leasable area is nearing completion. The second tower of the park is under construction and is expected to be ready for leasing out/selling another five million sq. feet of office space by the end of 2020. The combined saleable area for both the upcoming towers comes to approximately 8 lac sq. ft.
Kore communities is also gearing up for a grand entry in the Gurugram retail arena with the soon-to-be-launched commercial high street mall which would have a saleable area of approximately 8 lac sq. ft.