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

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

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

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

Next Story
Infrastructure Urban

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Next Story
Real Estate

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Next Story
Infrastructure Transport

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?