Ramesh Nair, CEO and MD of Mindspace Business Parks REIT
Mindspace Business Parks REIT, which develops an office portfolio, has acquired Mack Soft Tech Private Limited, which owns 0.81 million sq ft of ‘Q-City’, for ₹512 crore. This marks its first third-party asset addition.
Post-acquisition, the company’s portfolio capacity grows to 37.9 million square feet from 37.1 million square feet.
The acquired asset, which is 65 per cent occupied, will be rebranded as ‘The Square, 110 Financial District. The Financial District in the Western party of the city is a key IT hub, which houses several marquee global companies.’
“The deal strengthens our Hyderabad presence to over 16 million square feet, in aggregate. Hyderabad is one of India’s most coveted commercial markets, characterized by high GCC demand, minimal institutional-grade vacancy, and strong tenant preference,” Ramesh Nair, CEO and MD of Mindspace Business Parks REIT, said in a statement on Thursday.
“The Hyderabad market is the country’s GCC hub, houses over 350 global capability centres.. As Madhapur and Hi-Tec City near full capacity, global firms are looking westward. “Our acquisition positions us to capture this demand,” he said.
Published on July 24, 2025