Blackstone infuses Rs 50 cr to redevelop one-mile stretch in Mumbai

25 Jan 2022 CW Team

According to the private equity firm, which owns and manages properties worth over USF 60 billion in India, the one-mile region offers safer pedestrian walkways and community spaces for inhabitants.

Though Blackstone did not specify the amount of money invested in the Brihanmumbai Municipal Corporation’s (BMC) public-private partnership initiative, a civic official told the media that the fund had spent more than Rs 50 crore on the street's reconstruction.

Aditya Thackeray, the state's tourism minister, formally opened the stretch to the public this evening.

According to the fund, which has over $20 billion in real estate holdings in the country over 41 properties since 2006, making it the largest foreign fund in the market, the upgrade took more than a year to complete.

Thackrey expressed gratitude to Blackstone for its contribution and said that it is great to see the business sector step forward and engage with the city government and authorities to strengthen the city's infrastructure.

The mile-long section of road that connects Dadar, Elphinstone, and Lower Parel is a high-volume traffic region, with over one lakh commuters every day.

Nucleus Office Parks built two traffic lights and one U-turn intersection to improve traffic flow and vehicle lanes. In addition to 1.5 acres of afforestation, the project included a 2.5 km pedestrian walkway and 2.5 km dedicated cycling track.

Blackstone India's head of real estate, Tuhin Parikh, said the company has helped establish communities in India through several projects. The Mumbai streetscape initiative contributes to traffic safety and accessibility.

Image Source

Also read: Blackstone plans $7.1 bn IPO for Building Materials Europe BV

Also read: Blackstone Group sells over 5.7 cr units in Embassy Office Parks REIT

Nucleus Office Parks, a real estate platform owned by Blackstone's realty funds, has redeveloped a one-mile stretch of a street in Mumbai's core business district of the Lower Parel area for around Rs 50 crore. According to the private equity firm, which owns and manages properties worth over USF 60 billion in India, the one-mile region offers safer pedestrian walkways and community spaces for inhabitants. Though Blackstone did not specify the amount of money invested in the Brihanmumbai Municipal Corporation’s (BMC) public-private partnership initiative, a civic official told the media that the fund had spent more than Rs 50 crore on the street's reconstruction. Aditya Thackeray, the state's tourism minister, formally opened the stretch to the public this evening. According to the fund, which has over $20 billion in real estate holdings in the country over 41 properties since 2006, making it the largest foreign fund in the market, the upgrade took more than a year to complete. Thackrey expressed gratitude to Blackstone for its contribution and said that it is great to see the business sector step forward and engage with the city government and authorities to strengthen the city's infrastructure. The mile-long section of road that connects Dadar, Elphinstone, and Lower Parel is a high-volume traffic region, with over one lakh commuters every day. Nucleus Office Parks built two traffic lights and one U-turn intersection to improve traffic flow and vehicle lanes. In addition to 1.5 acres of afforestation, the project included a 2.5 km pedestrian walkway and 2.5 km dedicated cycling track. Blackstone India's head of real estate, Tuhin Parikh, said the company has helped establish communities in India through several projects. The Mumbai streetscape initiative contributes to traffic safety and accessibility. Image Source Also read: Blackstone plans $7.1 bn IPO for Building Materials Europe BV Also read: Blackstone Group sells over 5.7 cr units in Embassy Office Parks REIT

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..