Rising Sun Holdings Acquires Pune Office

26 Sep 2024 CW Team

Rising Sun Holdings, a company co-owned by billionaire Adar Poonawalla, has successfully acquired a substantial office space in Pune forRs.395 crore. This commercial real estate purchase is located in the Cerebrum IT Park, situated in the bustling Hinjewadi IT hub. The acquired property spans a total area of approximately 2.2 lakh square feet, distributed across four floors, with a carpet area of around 1.75 lakh square feet

The deal also includes provisions for parking, accommodating up to 218 vehicles. This acquisition reflects the growing demand for quality office spaces in Pune, particularly in areas known for their IT infrastructure. The purchase is indicative of Rising Sun Holdings' commitment to expanding its presence in the commercial sector amid a recovering post-pandemic economy

The seller of this property, Zawareh Soli Poonawalla, is a brother of Adar Poonawalla, highlighting the family ties within this significant transaction. With Pune emerging as a pivotal location for IT and other tech-related industries, this investment is poised to contribute to the ongoing development and modernization of the city's commercial landscape As the market for commercial real estate continues to evolve, Rising Sun Holdings' latest acquisition positions it strategically within one of India's key business hubs, aligning with broader trends in the sector. This investment not only showcases the confidence in Pune's economic prospects but also reinforces the growing influence of local enterprises in shaping the commercial real estate landscape

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