Mapletree buys land for Rs 5.25 bn in Mumbai
Real Estate

Mapletree buys land for Rs 5.25 bn in Mumbai

Mapletree investments of Singapore bought land for Rs 5.25 billion in the Vikhroli area of Mumbai. This can be earmarked as one of the biggest land deals in the country this year. 

Mapletree purchased the land from Kanakia Group. Kanakia Group, in turn, had bought the land from India Tube Mills and Metals (ITM) for Rs 3.63 billion in 2018. The land prices in Vikhroli hover between Rs 500-550 million, therefore the price paid by Mapletree was fair. 

Reportedly Mapletree is planning to build a commercial project on the plot and the area would have around 2.2 million sq ft of leasable land. 

Mapletree has made such real estate purchases in the past as well. In 2018 it bought SP Infocity in Chennai from Canada pension plan investment board and Shapoorji Pallonji’s private equity arm for Rs 24 billion. In 2019 it bought an 8-acre land parcel for Rs 1.7 billion in Pune from Vascon Engineers with the aim of developing a world-class office with an estimated project cost of Rs 10 billion.

In 2020 it made the first logistics space acquisition in India’s by acquiring a part of a 1.2 million sq ft industrial warehouse in Chakan, near Pune, for around $45-50 million. This was the first large real estate deal signed by the real estate asset manager after the lockdown imposed due to coronavirus.

Mapletree, headquartered in Singapore, is a leading real estate development, investment, capital and property management company. As of 31 March 2020, Mapletree owned and managed $60.5 billion of office, retail, logistics, industrial, data centre, residential and lodging properties. Mapletree currently manages four Singapore-listed real estate investment trusts (REITs) and five private equity real estate funds
 
The Mapletree India China Fund was launched to leverage the opportunities that come with the growth of one of the world’s most populous nations. The first investment made in India was on a 13-acre Global Technology Park in Bangalore.

Mapletree investments of Singapore bought land for Rs 5.25 billion in the Vikhroli area of Mumbai. This can be earmarked as one of the biggest land deals in the country this year. Mapletree purchased the land from Kanakia Group. Kanakia Group, in turn, had bought the land from India Tube Mills and Metals (ITM) for Rs 3.63 billion in 2018. The land prices in Vikhroli hover between Rs 500-550 million, therefore the price paid by Mapletree was fair. Reportedly Mapletree is planning to build a commercial project on the plot and the area would have around 2.2 million sq ft of leasable land. Mapletree has made such real estate purchases in the past as well. In 2018 it bought SP Infocity in Chennai from Canada pension plan investment board and Shapoorji Pallonji’s private equity arm for Rs 24 billion. In 2019 it bought an 8-acre land parcel for Rs 1.7 billion in Pune from Vascon Engineers with the aim of developing a world-class office with an estimated project cost of Rs 10 billion.In 2020 it made the first logistics space acquisition in India’s by acquiring a part of a 1.2 million sq ft industrial warehouse in Chakan, near Pune, for around $45-50 million. This was the first large real estate deal signed by the real estate asset manager after the lockdown imposed due to coronavirus.Mapletree, headquartered in Singapore, is a leading real estate development, investment, capital and property management company. As of 31 March 2020, Mapletree owned and managed $60.5 billion of office, retail, logistics, industrial, data centre, residential and lodging properties. Mapletree currently manages four Singapore-listed real estate investment trusts (REITs) and five private equity real estate funds The Mapletree India China Fund was launched to leverage the opportunities that come with the growth of one of the world’s most populous nations. The first investment made in India was on a 13-acre Global Technology Park in Bangalore.

Next Story
Infrastructure Urban

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Next Story
Infrastructure Transport

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Next Story
Infrastructure Transport

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?