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Siemens on the race of clearing assets

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The leading transmission and equipment unit Siemens has kept 13 of its possessions of the economic capital city - Mumbai on block. Source reported at www.propetykhazana.com reveals that the these properties were the division of Siemen’s non core assets which are spread over around 15,000 square feet at many major locations of Mumbai with an average cost of Rs 30,000 per square feet.
The German company actually wants to gain the advantage of stability in realty price in India and is planning to raise nearly Rs 45 crore for a realty structure with selling price starting from Rs 1 crore. On a short note with www.propertykhazana.com a spokesman of the German unit states that “the company reviewing its assets for a long time and its apartments has not been occupied for quite an instance and so the ultimate closures comes in the form of selling those through an auction stage”.
For this very purpose the company has engaged JLLM – the global consulting realty firm and there may be more on the auction stage in near future as per the confidential sources of www.propertykhazana.com after clearing the current stock of 13 apartments. Chairman of JLLM – Anuj Puri has cited that “it is not only the Siemens group, but there are a long list of tycoons who are tending towards clearing the realty stock to furnish more liquidity to their balance sheet”. For more and latest realty updates follow www.propertykhazana.com.
Source: NBTVLIVE

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