For anyone familiar with the bustling city of Bengaluru, the Silicon Valley of India, the sight of vast IT parks and cutting-edge commercial areas is a common occurrence. The Sattva Group, which has been at the forefront of creating some of these state-of-the-art office spaces since the early 2000s and reshaping the landscape of the Indian real estate industry, is behind some of these future-ready projects.
How the journey began
The group’s journey began in 1993 with the construction of a commercial structure in then Bangalore that paved the way for bigger, better things to follow. At the turn of the century, with the onset of Information Technology (IT), the Garden City was poised for exponential growth. Realising the growth potential, Bijay Agarwal — a first-generation entrepreneur — seized the endless opportunities at hand and strategically put together a road map to success What followed was a collection of carefully crafted commercial and residential structures that set the base for 30 years of innovation and still counting. Having established itself as a trendsetter in India’s real estate sector, today, it is poised to enter the next cycle of its growth trajectory.
A significant player in the Indian commercial real estate arena
Sattva Group is one of the very first developers to have set up an IT Park in the early 2000s, GR Tech Park, in Bengaluru. In the years that followed, the group went on to build a number of commercial spaces that are on par with international standards. Recognising the need for sustainable properties, the group has harnessed its expertise to construct avant-garde commercial spaces that are pre-LEED-certified IT/ITES structures, developed and constructed in accordance with the CII’s Indian Green Buildings Council (IGBC) rating system. These projects incorporate solar systems for hot water and electricity, reducing overall power consumption and exemplifying the group’s commitment to environmental responsibility.
Sattva Group’s ‘Knowledge’ Series
The group’s offering also includes its flagship projects, Sattva Knowledge City, Knowledge Court, Knowledge Park, Knowledge Point, and Knowledge Capital. These fine specimens of commercial offerings are indeed architectural marvels that cater to the growing need for technologically-powered, convenient sustainable structures. For instance, Sattva Knowledge City in Hyderabad is one of Asia’s finest tech parks that has been built considering the the future requirements of the world’s workforce. Right from the building materials to the technology that has been implemented, as well as design and architecture, the futuristic workspace offers optimal work-life balance for its occupants. . On the other hand, Knowledge Court in Bengaluru is a sophisticated office space that seamlessly combines contemporary design and business practices, resulting in a setup that is embraced by clients across sectors, to carry out large-scale business operations
One of the group’s ambitious projects in this segment is the upcoming Image Tower, which is being built in association with the Telangana Government on a PPP model. Touted to be a futuristic structure, it will redefine the animation, visual effects, gaming and comics segment landscape. Sattva has been building industry-first avant-garde spaces that are well-received and highly sought-after, as the group continues to innovate and build spaces that align well with the evolving needs of businesses.
Presence across six cities
Sattva Group has grown into one of the most prominent realtors in the country today, boasting a diversified portfolio. While headquartered in Bengaluru, it has established a strong presence in Hyderabad, Chennai, Goa, Kolkata, Pune, Coimbatore, and Mumbai. In a span of just 17 years, the group achieved CRISIL’s ‘A’ stable rating for all its projects. As of 2023, the Group has completed 69 million sq. ft. of space, with an addition of over 60 million sq. ft. in various stages of planning and development.
Diversification is Key
As Asia’s population continues to grow, so does the demand for flexible office spaces. The Sattva Group, known for its ability to identify and seize opportunities, has expanded beyond traditional real estate assets. The group has ventured into co-living and co-working spaces, as well as data centres, thereby building a dynamic asset class. Notably, the group acquired a majority stake in Simpliwork, a prominent flexi-office space player in Bengaluru, adding 4 million sq. ft. to its portfolio. Additionally, it made a significant investment in Co-live, a Bengaluru-based co-living space provider, where it holds an inventory of 15,000 beds across Bengaluru, Hyderabad, Chennai, and Pune with expansion plans on the anvil.
Embracing Collaborative Ventures
In 2020, the Sattva Group, in collaboration with the Blackstone Group, made headlines by acquiring the renowned ‘Global Village Tech Park’ in Bengaluru from Coffee Day Enterprises. Spanning 100 acres on Mysore Road, the tech park has been transformed into Sattva ‘Global City’. Primarily designated for IT services and featuring an operational Special Economic Zone (SEZ), this strategic acquisition further solidified the Sattva Group’s position as a successful real estate company and a key player in the industry. The collaboration with global private equity firms like Blackstone and Apollo highlights the group’s commitment to embracing collaborative ventures as well as its credibility as a trusted brand.
By joining forces with industry leaders, the Sattva Group can leverage its collective strengths and capitalise on emerging opportunities in the commercial real estate sector. These collaborative ventures not only enhance the group’s capabilities but also foster innovation, allowing it to deliver cutting-edge projects that meet the evolving needs of businesses and consumers. It symbolises the Sattva Group’s vision to create thriving ecosystems where businesses can thrive, talents can flourish, and communities can prosper. Sattva Global city will transform into a hub of technological innovation and sustainable economic growth.
The Sattva Group’s three-decade journey in the commercial real estate industry has been marked by unparalleled expertise, visionary leadership, and a commitment to innovation. From its pioneering IT parks to its diversification into co-living, co-working spaces, and sustainable projects, the group has consistently pushed boundaries and adapted to changing market demands. As it continues to embrace collaborative ventures and expand its presence across major Indian cities and beyond, the group is poised to remain a major player in the industry, shaping the future of commercial real estate in India
Source: economictimes.indiatimes.com
