Piramal Realty to provide 1 mn sq ft of office park to BentallGreenOak

09 Dec 2020 CW Team

The deal would catapult BentallGreenOak, which is the real estate wing of the Canadian financial services firm Sun Life Financial Inc, into the real estate investment sector of India.

With a total project size of 2 million sq ft, Primal’s Agastya is one of the nation’s largest non-IT commercial developments that is spread across 16 acre on LBS Marg. Half of the development project area, which has been completed, has been leased by BentallGreenOak. Other companies that occupy existing offices here are Piramal Enterprises, Piramal Learning University, and Pantaloons, which is a part of the Aditya Birla Fashion and Retail. French firms like Decathlon, a sports goods retailer, and Danone, which is a food products firm, also occupy offices in this project.

According to the business daily The Economic Times, one of the people associated with the project said that the deal was expected to be concluded in the upcoming month and the term sheet had already been signed.

Last year, private equity firms invested upwards of $5 billion in the Indian property sector. With increasing rentals, robust space uptake, and decreasing vacancy levels have strengthened the position of the Commercial real estate at the top. This sector has been the preferred location for investment for a myriad of global financial institutions.

In the past few weeks, Prestige Group entered into a deal worth $1.5 billion with the Blackstone Group, whereas, Brookfield Asset Management extended a deal to RMZ group for their office assets, for $2 billion. At the start of the year 2020, when the nation faced a turbulent economy, the real estate sector witnessed investments worth $2.3 billion.

Piramal Realty and the BentallGreenOak deal will see another major financial institution enter the commercial real estate market of the country.

Image Source

BentallGreenOak, a Canadian real estate investment firm, to acquire a part of Piramal Realty’s commercial development Agastya Corporate Park in Kurla in central Mumbai for more than $135.86 million. The deal would catapult BentallGreenOak, which is the real estate wing of the Canadian financial services firm Sun Life Financial Inc, into the real estate investment sector of India. With a total project size of 2 million sq ft, Primal’s Agastya is one of the nation’s largest non-IT commercial developments that is spread across 16 acre on LBS Marg. Half of the development project area, which has been completed, has been leased by BentallGreenOak. Other companies that occupy existing offices here are Piramal Enterprises, Piramal Learning University, and Pantaloons, which is a part of the Aditya Birla Fashion and Retail. French firms like Decathlon, a sports goods retailer, and Danone, which is a food products firm, also occupy offices in this project. According to the business daily The Economic Times, one of the people associated with the project said that the deal was expected to be concluded in the upcoming month and the term sheet had already been signed. Last year, private equity firms invested upwards of $5 billion in the Indian property sector. With increasing rentals, robust space uptake, and decreasing vacancy levels have strengthened the position of the Commercial real estate at the top. This sector has been the preferred location for investment for a myriad of global financial institutions. In the past few weeks, Prestige Group entered into a deal worth $1.5 billion with the Blackstone Group, whereas, Brookfield Asset Management extended a deal to RMZ group for their office assets, for $2 billion. At the start of the year 2020, when the nation faced a turbulent economy, the real estate sector witnessed investments worth $2.3 billion. Piramal Realty and the BentallGreenOak deal will see another major financial institution enter the commercial real estate market of the country. Image Source

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..