Hindustan Construction Company (HCC) on Thursday announced the divestment of 74 per cent stake in its new age business destination, ‘247Park', in Mumbai to IL&FS Milestone Fund. Valued at Rs. 775 crore, ‘247Park' is India's largest standalone LEED Gold certified green building with a built-up area of 1.8 million sq. ft.It is located at the heart of the upcoming business corridor at Vikhroli in Mumbai. The project was completed in March 2010, and over 85 per cent of its space had already been leased out.
Rajgopal Nogja, President-HCC Real Estate Ltd., a hundred per cent subsidiary of HCC, said “We completed ‘247Park' on schedule incorporating highest standards.”
Ved Prakash Arya, Managing Director and CEO, Milestone Group, said “the group was looking for premium commercial development like ‘247Park' which is designed using sustainable design philosophies.
