Enticing investment potential in a pre-leased asset in a developing city in India
The GMDC Project presents investors with an opportunity to participate in the development of a managed office center, complete with pre-committed occupants. The project aims to achieve a targeted annual yield of 10% by developing this premium asset in the emerging city of Vastrapur, India.
DevX is currently extending an invitation to professional investors to participate in the investment opportunity. The capital raised will be utilized for the construction, operation, and leasing of an office building in a prime location with high demand. Investors can anticipate robust risk-adjusted returns by gaining exposure to an outstanding, rapidly growing real estate environment, coupled with the expertise of a seasoned team boasting a proven long-term successful track record.
The total building capacity of Project GMDC is 44,600 m², distributed among office (80%), residential (12%), and retail (8%) spaces to optimize revenue generation and maximize profits.
Project GMDC is envisioned as a distinctive office space that will cultivate a campus-like atmosphere, incorporating open spaces and overlapping work areas to promote interactivity and flexibility. DevX, the driving force behind this project, is committed to creating informal spaces for recreational activities to shape a vibrant and positive corporate culture within the building. The strategic placement of the retail area in a prime location, easily accessible from the street, aims to boost demand among potential retail tenants.
In addition to offering appealing amenities such as cricket and tennis facilities, the building places a strong emphasis on sustainability and energy efficiency. Electricity for common areas will be sourced from photovoltaic (PV) systems. The project boasts an Indian Green Building Council rating, highlighting its commitment to reduced carbon emissions and a minimized environmental impact.
DevX, the visionary behind this project, brings a wealth of offerings to the table, including management expertise, local experience, an excellent and lengthy track record in commercial real estate, project sourcing and realization experience, and a dedicated project team with over 60 employees.
The GMDC project presents an equity participation opportunity with a total investment volume amounting to $48,000,000, which will be used to build, operate and rent out the building. Investors can anticipate a targeted yield of 10% per annum and a targeted IRR of 19.6% in the event of an early exit. Tokenization for this project is optional, providing flexibility for investors.
Situated in Vastrapur, Ahmedabad, Gujarat, India, the managed office space provides an optimal environment for enterprise and MNC clients. Its strategic placement in a bustling neighborhood positions it in close proximity to shopping malls, a hospital, universities, and dynamic student communities. This premier location ensures startups have convenient access to essential services and a diverse talent pool, fostering an environment conducive to growth and innovation.
DEV ACCELERATOR PVT LTD. (“DevX”) stands as Gujarat’s largest co-working company, with an expanding presence into new areas. The company is currently undergoing substantial growth propelled by corporate collaborations, favorable market conditions, and heightened demand, all fueled by its technical expertise.
Operating across 10 cities in India, DevX provides over 100,000 square meters of workspace spread across 27 co-working and managed office space centers. Additionally, they administer a Startup Accelerator program crafted to nurture innovative startups by providing essential support.
DevX managed office centers
DevX remains highly attuned to the evolving needs of the entrepreneurial community, playing a pivotal role in supporting the growth journeys of numerous startups at their centers. The company’s philosophy revolves around fostering equal partnerships and facilitating growth through strategic alliances and supplementary services.
The company maintains a 82% occupancy rate across its existing office centers, highlighting its commitment to eco-friendly operations, emphasis on second-tier cities, engagement with marquee clients on long-term contracts, possession of an in-house design execution team, provision of a fully integrated app, assurance of a swift break-even, and offer of a substantial rent-free period.
Co-Founder and Chief Growth Officer
• 10 years in IT & Real Estate, Strategic Thinker with Marketing and Sales expertise, Startup Enthusiast, and Entrepreneur.
• Focus on Strategic Partnerships, Long-term Growth Strategies, and curating Technology Startups/SMEs for the Accelerator program.
• Leads Sourcing, Negotiating, and on-boarding of Strategic Partners, emphasizing like-minded collaborations.
• Board Member (Investor) and Mentor for SaaS, Mobility, Cloud Kitchen, Media Tech, and Lending ventures.
• Experience: Marketing/Sales Consultant at a 100-year-old Manufacturing firm in the UK.
• Active Investor and Mentor for Startups, facilitating their transition from Ideation Stage to Growth stage.
Co-Founder and Chief Operation Officer
• 10+ years in operations, go-getter in commercial real estate, passionate about disruptive office space solutions.
• Process advocate, serial entrepreneur, supports startups in streamlining processes.
• Started as a soft skill trainer, transitioned to streamlining and automating hiring processes, established 2 successful startups.
• Leads Phi designs for interior designing and oversees digital marketing solutions for DevX.
• Active investor, accelerates tech startups with fellow co-founders.
Co-founder and Chief Engagement Officer
• 7+ years in IT, specializes in Network Infrastructure Management.
• Inspired by technology and digital transformation, brings innovative solutions to CRE industry.
• Expert in client relationship management and negotiation, focuses on efficient operational solutions.
• Heads Purchase, Admin, Legal, and Network departments, building strong connections with Vendors, Builders, Strategic Partners, and Clients.
• Aims to establish DevX as the pioneer brand in the Office Space Industry with co-founders.
Target Fund Raise
For Investors from
|DEV ACCELERATOR PVT LTD.
|Total Investment Volume
|Min. Investment Amount
|Targeted IRR (early exit scenario)
|Start of Offering
|1 February 2024
|USD, INR, EUR
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