MAIA Estates has announced a strategic partnership with CapitaLand, a sovereign fund of the Government of Singapore, to develop its flagship commercial venture. The Beacon is a state-of-the-art commercial office and F&B retail development in Hebbal, Bengaluru's emerging business corridor on the banks of Nagavara Lake. Backed by a Rs 1,000 crore financing transaction from CapitaLand, MAIA will deliver ~1.2 million square feet of premium commercial space and 200,000 square feet of complementary food, beverage and entertainment spaces overlooking the lake.
This collaboration brings together the sovereign's capital and MAIA's expertise in visionary design and high-quality real estate, creating a practical and user-friendly workspace that integrates cutting-edge technology with sustainable innovation while considering social and cultural sensibilities. The Beacon embodies MAIA Estates' commitment to international standards, aligning with the ethos of its strategic partner, CapitaLand. Its prime location positions it as a key catalyst in Hebbal's transformation into a thriving business district.
Designed to be one of Bengaluru's most efficient commercial developments, The Beacon is brought to life by a world-class team of experts. Lead architecture and design partners, Skidmore Owings & Merill, have maintained the hallmark of global standards of quality and precision, complemented by the expertise of Fisher Marantz Stone for Lighting, Art Chork for Landscape and Studio Axis for Concept & Execution.
The design has built-in flexibility for the end user, offering exceptional space planning, seamless access, AI-powered security,, and enhanced connectivity to the digital and social worlds. These attributes help employers retain the best talent and provide users with a secure, clean and safe environment, all in the lap of nature. MAIA Estates has confirmed that the development will have top-tier global sustainability certifications, including LEED Platinum, IGBC Platinum and WELL Gold, ensuring it meets the highest standards of environmental responsibility and occupant well-being.
Gauri Shankar Nagabhushanam, Chief Executive Officer of CapitaLand India Trust Management Pte. Ltd. (the Trustee-Manager of CLINT), said, "The proposed forward purchase acquisition will further strengthen CLINT's presence within Bangalore, which remains one of India's most prominent office micro-markets. With this forward purchase agreement, we can offer our tenants even more premium office space options in Bengaluru. The development also marks the beginning of our partnership with MAIA Estates, a distinguished luxury developer in Bangalore with a strong track record."
Mayank Ruia, Founder and CEO of MAIA Estates commented, "Our collaboration with CapitaLand on The Beacon represents a defining moment for both MAIA Estates and the Bengaluru skyline. This development is set to create new standards for modern office spaces, where design excellence, sustainability, and technology, converge on the magnificent Nagavara lakefront. As Bengaluru continues to emerge as a leading global business hub, The Beacon is strategically positioned to play a meaningful role in its journey, offering exceptional workspaces and several options for well-being and entertainment, carefully and seamlessly intertwined. This development reflects our unwavering commitment to creating environments that foster progress and embody the spirit of a forward-thinking, thriving urban landscape."
Litmus acted as the exclusive strategic and financial advisor to the transaction. MAIA's collaboration with CapitaLand aims to elevate commercial real estate standards in India by combining forward-thinking design with an emphasis on sustainability and technological advancement. The development will offer an environment where businesses thrive, employees flourish, and Bengaluru's reputation as a premier global city continues to rise. As the city's skyline evolves, The Beacon will stand as a testament to progress, innovation, and thoughtful urban development.
