DevX Secures Historic Deal for 27-Storey Ahmedabad Tower
Managed office space provider Dev Accelerator (DevX) has acquired a 27-storey commercial office tower in Ahmedabad, covering 800,000 sq ft, in a deal exceeding Rs 850 crore in total rentals, marking the largest coworking transaction in India. This deal is particularly noteworthy as such a significant agreement is made in Ahmedabad, a deviation from traditional office hubs like Mumbai, Bengaluru, Hyderabad, Delhi-NCR, and Pune. The transaction is structured as a long-term development management (DM) agreement rather than a standard lease. The project is in the construction phase and is expected to be completed within 2.5 to three years. “This reflects…