Kanakia Group has entered into a joint venture with United States-based real estate firm Hines and Japanese conglomerates Mitsubishi Estate Company Limited and Sumitomo Corporation to develop a premium office complex in Mumbai. The Grade A commercial project, spanning 1.5 million square feet, will be located in Bandra Kurla Complex (BKC), one of the city’s top business districts.

Under the agreement, Kanakia Group will provide the land parcel, while Hines, Mitsubishi Estate, and Sumitomo will act as institutional investors and co-developers. This strategic collaboration brings together international expertise and capital to create a state-of-the-art commercial hub in the heart of Mumbai.

The development is positioned to cater to the growing demand for high-end office infrastructure, reinforcing Mumbai’s status as a financial capital. With the participation of major global players, the project is expected to raise the bar for commercial real estate standards in India.

This joint venture reflects a continued trend of global investment interest in Indian urban infrastructure, especially in prime locations like BKC which offer long-term value potential.

Source:
Press Trust of India