Mindspace Business Parks REIT has announced its acquisition of ‘Q-City’, a sprawling 8.1 lakh square feet office complex located in Hyderabad’s bustling financial district. The deal, valued at ₹512 crore, marks a significant expansion of Mindspace REIT’s portfolio, which now totals 37.9 million square feet.
The acquisition of Q-City is a strategic move for Mindspace Business Parks REIT, as Hyderabad’s financial district is rapidly emerging as a key hub for Global Capability Centers (GCCs) and a magnet for talent in the technology and Banking, Financial Services, and Insurance (BFSI) sectors.
Ramesh Nair, CEO and MD of Mindspace Business Parks REIT, emphasized the strategic importance and financial attractiveness of the acquisition. He highlighted the deal’s favorable terms, noting a 9.9% cap rate and an impressive 11.6% discount to independent valuation, underscoring the strong investment potential of the property.
“The campus, located in the Financial District, further strengthens our foothold in Hyderabad. The market is India’s hottest Global Capability Center (GCC) hub, now home to more than 350 global capability centres and the nation’s fastest-growing tech and BFSI talent base,” he said.
Following this acquisition, Mindspace Business Parks REIT’s expanded portfolio now comprises 30.8 million square feet of completed area, 3.7 million square feet currently under construction, and an additional 3.4 million square feet earmarked for future development. This robust pipeline positions the REIT for continued growth in India’s dynamic commercial real estate market.
The acquisition reinforces Hyderabad’s status as a top destination for commercial real estate investment and a thriving ecosystem for global businesses.
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