ICICI Prudential AMC Acquires Mumbai Office Tower for Rs 3.15 Bn
Real Estate

ICICI Prudential AMC Acquires Mumbai Office Tower for Rs 3.15 Bn

ICICI Prudential Asset Management Company (AMC) has acquired an office tower in Mumbai from Kalpataru Group for Rs 3.15 billion. This transaction marks ICICI Prudential AMC's strategic investment in Mumbai's commercial real estate market, aiming to capitalise on the city's robust business environment.

The office tower, located in a prime business district of Mumbai, is expected to complement ICICI Prudential AMC's investment portfolio. The acquisition underscores the company's confidence in Mumbai's commercial property market and its commitment to delivering value to investors.

The transaction highlights ICICI Prudential AMC's strategy to enhance its real estate investments, focusing on quality assets with growth potential. Mumbai, as India's financial capital, continues to attract investments in commercial real estate due to its vibrant economy and strong demand from corporate tenants.

The office tower acquisition is expected to contribute positively to ICICI Prudential AMC's asset under management (AUM) growth and investment returns. The company's expertise in real estate investment management positions it to capitalise on opportunities in Mumbai's dynamic commercial property sector.

As ICICI Prudential AMC expands its footprint in Mumbai's real estate market, the acquisition reaffirms its commitment to prudent investment strategies and portfolio diversification. The office tower's strategic location and potential for rental income are likely to bolster ICICI Prudential AMC's position as a key player in India's asset management industry.

ICICI Prudential Asset Management Company (AMC) has acquired an office tower in Mumbai from Kalpataru Group for Rs 3.15 billion. This transaction marks ICICI Prudential AMC's strategic investment in Mumbai's commercial real estate market, aiming to capitalise on the city's robust business environment. The office tower, located in a prime business district of Mumbai, is expected to complement ICICI Prudential AMC's investment portfolio. The acquisition underscores the company's confidence in Mumbai's commercial property market and its commitment to delivering value to investors. The transaction highlights ICICI Prudential AMC's strategy to enhance its real estate investments, focusing on quality assets with growth potential. Mumbai, as India's financial capital, continues to attract investments in commercial real estate due to its vibrant economy and strong demand from corporate tenants. The office tower acquisition is expected to contribute positively to ICICI Prudential AMC's asset under management (AUM) growth and investment returns. The company's expertise in real estate investment management positions it to capitalise on opportunities in Mumbai's dynamic commercial property sector. As ICICI Prudential AMC expands its footprint in Mumbai's real estate market, the acquisition reaffirms its commitment to prudent investment strategies and portfolio diversification. The office tower's strategic location and potential for rental income are likely to bolster ICICI Prudential AMC's position as a key player in India's asset management industry.

Next Story
Infrastructure Transport

Work on Chennai’s First Cable-Stayed Bridge Set to Begin Soon

Construction of Chennai’s first cable-stayed bridge is set to begin soon as part of the Chennai Port–Maduravoyal elevated corridor project. The bridge will be located near Napier Bridge, where the corridor crosses onto Swami Sivananda Salai. A single pier will support the structure at this location, and the ramp will extend via Island Grounds. Piling work at the site is expected to begin shortly.Two additional cable-stayed bridges will also be constructed along the 20-km-long double-decker corridor—one at Koyambedu and another at Maduravoyal. Each of the three bridges will be 300 metres ..

Next Story
Infrastructure Transport

MMRDA Seeks Rs 5.50 Bn Property Tax Waiver on Metro Yards and RMC Plants

The Mumbai Metropolitan Region Development Authority (MMRDA) has requested the State Urban Development Department to direct the Brihanmumbai Municipal Corporation (BMC) to waive Rs 5.50 billion in property tax levied on temporary casting yards and Ready Mix Concrete (RMC) plants set up by Metro contractors. This request follows a letter sent by the BMC in December 2024, demanding recovery of the pending dues.J Kumar Infraprojects was allotted seven plots by MMRDA across various BMC wards—H/East (Santacruz), H/West (Bandra), K/East (Andheri), P/North (Malad), and M/West (Chembur)—to establi..

Next Story
Infrastructure Transport

Bridging the Gap

India’s bridge infrastructure market is poised for significant growth, projected to rise from $ 42.16 billion in FY2024 to $ 68.26 billion by FY2032, registering a compound annual growth rate (CAGR) of 6.21 per cent, according to Markets & Data. This upward trajectory is bolstered by an 11.1 per cent increase in capital infrastructure spending this year, taking the total allocation to Rs 11.11 lakh crore (~$ 133 billion).“Policy reforms and institutional frameworks have emerged as key accelerators in India’s bridge construction landscape, streamlining execution, enhancing resilience ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?