What is Aurum PropTech selling in Navi Mumbai?

Aurum PropTech is selling two independent commercial towers, Q5 and Q6, at Millennium Business Park for Rs 112 crores.

Why is Aurum PropTech selling these commercial towers?

The sale is part of Aurum PropTech's strategic shift towards building AI-driven property technology platforms and investing in advanced AI capabilities.

How will the proceeds from the sale be used by Aurum PropTech?

The proceeds will strengthen Aurum's AI investment pool and support the accelerated development of intelligent digital infrastructure for the real estate sector.

Home / Business and Economy / Aurum Sells Navi Mumbai Towers for Rs 112 Cr

Aurum Sells Navi Mumbai Towers for Rs 112 Cr

12 Mar

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Summary

Aurum PropTech sold two commercial towers for Rs 112 crores.
The sale is part of a strategic shift towards AI-driven platforms.
Proceeds will fund AI investments and real estate digital infrastructure.

Aurum Sells Navi Mumbai Towers for Rs 112 Cr

Aurum PropTech Ltd has approved the sale of two independent commercial towers, Q5 and Q6, located at Millennium Business Park in Navi Mumbai. The total sale consideration for these properties amounts to Rs 112 crores. These towers offer a combined 142,000 sq ft of leasable space and were acquired by Aurum in 2021 as part of the Majesco acquisition.

The divestment signifies Aurum's strategic shift towards an AI-driven PropTech business model. The company is dedicating significant capital to developing artificial intelligence capabilities across its core segments: rental, distribution, and capital. AI integration aims to improve tenant acquisition, pricing, property management, and automate leasing processes.