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Roche, the multinational pharmaceutical company, has made a significant acquisition in Pune, India. The Indian division of Roche has purchased an office property in Baner locality from Brookfield Properties, covering an impressive area of over 2 lakh square feet. The property will serve as the headquarters for Roche Information Solutions India, the healthcare digital subsidiary of Roche. The lease agreement spans nine years, with Roche Information Solutions India expected to pay over 210 crores in rent during this period.
The deal has been finalized, and both parties have agreed to the lease conditions. The transaction is expected to be officially registered in the coming days. The commercial development, known as 45Icon, is jointly owned by Brookfield Properties and Raviraj Abhinandan Developers. The project encompasses a leasable area of nearly 4 lakh square feet and is situated on a plot of more than 3.34 acres.
Last year, Roche Pharma announced its plans to establish a second data analytics centre in Hyderabad, making it the company's second facility of this kind in India. Roche is leveraging workflow integration and data analytics to gain valuable insights that aid laboratories in improving patient care through more efficient data management. Roche Information Solutions India, which was established in 2015, plays a crucial role in this endeavour.
Brookfield Properties is recognized as one of the largest real estate investors in India, with an extensive portfolio of over 50 million square feet of space across key gateway cities. Despite predictions of a recession in western markets that could potentially impact the Indian commercial real estate sector, the office space industry has experienced a significant increase in demand over the past three to four quarters. This growth is attributed to robust economic expansion, heightened hiring activities, and the return of employees to workplaces.
Overall, Roche's acquisition of the office property in Pune reflects its commitment to expanding its presence in India and harnessing the power of data analytics to enhance patient care. The transaction also highlights the positive trend in the commercial office category, despite global economic uncertainties, reaffirming the resilience and potential of the Indian commercial real estate market.
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