Kolkata Based Real Estate Developer Merlin Group to Invest INR 2000 Cr in Pune Across Different Projects

The launch of 18-East, a commercial development in Pune's Koregaon Park Annexe by Merlin Group signals its strong foray in the pune real estate market.

The Merlin Group, a prominent real estate developer in eastern India, has officially joined the Pune real estate market. It introduced 18 East, a commercial development in Koregaon Park Annexe. The building will be 74 metres tall and cover an area of 1,500,000 square feet. The construction process has begun, and the project will be completed by 2025.

The organisation has offices in Chennai, Raipur, Ahmedabad, Bhubaneswar, and Colombo, Sri Lanka. Approximately the years, a real estate development of over 30 lakh square feet is planned for Pune. In Koregaon Park Annexe, Wakad, Baner, and Jambhulwadi, the company intends to develop residential and commercial properties.

Saket Mohta, managing director of Merlin Group, said, "Due to Pune's emergence as a major IT centre, the city draws professionals, hence increasing demand for retail homes. With its combination of boutique offices, big offices with single floor plates, and double-height showrooms, Project 18 East is the ideal location for small and medium-sized firms. Our structures are also LEED or IGBC certified and sustainable in most respects."

Last year, 37,218 apartments were sold on the city's real estate market, while 3.8 million square feet of office space will be transferred by the end of 2021.