Siemens on real estate assets selling spree, now sells Worli office property for Rs 610 crore

As part of a strategy to liquidate its fragmented real estate assets, German engineering giant Siemens has sold its Worli office property for Rs 610 crore to Whispering Heights Real Estate Pvt Ltd, a joint venture of Reco Solis Pte Ltd and K Raheja Corp Group. Earlier, company has sold some of its properties on Bangalore’s arterial Mahatma Gandhi Road.

The company said in a BSE filing that it has transferred and assigned its leasehold interest in the property to Whispering Heights. Reco Solis Pte Ltd is an affiliate of GIC, Singapore. Last December Siemens had entered into a pact with Whispering Heights to sell the Mumbai property.

“Siemens Ltd and Whispering Heights Real Estate Pvt Ltd, have today executed a MoU for the transfer and assignment of the company’s leasehold interest in the property located at Plot No 130, Pandurang Budhkar Marg, Worli, Mumbai — 400018 for a total consideration of Rs 610 crore in favour of the Proposed Assignee,” it had said in a regulatory filing in December.

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Engineering and technology firm Siemens today said it has sold its Worli office property for Rs 610 crore to Whispering Heights Real Estate Pvt Ltd, a joint venture of Reco Solis Pte Ltd and K Raheja Corp Group.