Hilton to manage Manesar service apartment

NEW DELHI: More signs of movement in the real estate market. Hilton has leased a 100-room serviced apartment block in Manesar from Anant Raj Industries for 30 years.

The building is part of the 10-acre complex being developed by Anant Raj, which includes a 1.2 million sq ft IT Park.

Hilton will be using the Hampton by Hilton branding for this property, which it has leased as a cold shell, and will be investing in fitting out this property appropriately.

���Hilton has given a six months security upfront. According to the agreement, there will be a 15% escalation in the lease rental every three years,��� says Amit Sarin, director at Anant Raj Industries.

The IT Park at the Anant Raj Technology Park at Manesar is in the process of being leased out. ���We are getting a good response. We are the first ones to have a finished property in the area, and there is a lot of pent up demand,��� says Mr Sarin.