Essar completes sale of Equinox Business Parks to Brookfield for Rs 2,400 crore

08 May 2018 CW Team

Essar has announced that it has completed the sale of Equinox Business Parks, its commercial property in Mumbai’s Bandra-Kurla Complex, to Brookfield Asset Management, a leading global asset manager, for an enterprise value of Rs 2,400 crore.

Located in Mumbai’s prime CBD and spread across nearly 10 acre, Equinox Business Park comprises four towers, with a leasable office space of about 1.25 million sq ft. In 2006, Essar was a licensee in the Park. Later, realising the potential of BKC in the commercial real estate space, it acquired the towers and ultimately the entire Park in the period between 2008 and 2012. Over time, Essar developed the Park as among the few corporate parks in Mumbai with campus-like facilities. These facilities include a Commerce Centre, club house, food court, cafeteria, banquet hall and parking. Some of the companies that occupy space in the Park are Tata Communications, Experian, Crompton Greaves and Lafarge.

Speaking on the transaction, Anshuman Ruia, Essar, said: “I am happy that we have been able to conclude a marquee deal with a quality investor, Brookfield, who has an enviable track record of highly strategic and well-considered acquisitions. This is among the largest transactions in India’s commercial real estate sector, and demonstrates the value we have been able to create in our Equinox investment.”

Mr Ankur Gupta, Brookfield’s Real Estate Head (India), said: “It has been a pleasure working with the Essar Group to complete this transaction. We are excited to bring Brookfield’s placemaking capabilities to Mumbai’s main business district. We will invest significant capital, introduce more F&B and modern amenities, and establish Equinox as a high-quality office destination.”

Infrastructure Transport

27 Jun 2026

Noida Airport Fuels NCR Realty Growth

The start of commercial operations at Noida International Airport has recently emerged as a major trigger for real estate growth across Noida, Greater Noida and the Yamuna Expressway region. The airport is expected to improve regional connectivity and support the next phase of development in eastern NCR.The airport, inaugurated on 28 March, has begun passenger services, while cargo operations are also expected to strengthen its role as an economic and logistics hub. Its operationalisation is expected to reduce dependence on Delhi’s Indira Gandhi International Airport for residents and busine..

thyssenkrupp and GlobalLogic Form AI Alliance

thyssenkrupp AG and GlobalLogic, a Hitachi Group company, have recently formed a strategic alliance to deploy autonomous robotics and Physical AI across heavy industry operations. The partnership aims to improve safety, reduce engineering bottlenecks and accelerate industrial transformation at scale.The alliance brings together thyssenkrupp’s industrial expertise with Hitachi’s innovation capabilities. It includes GlobalLogic, Method and Hitachi America R&D, creating a “Lab-to-Scale” pipeline that connects research, digital strategy, design and enterprise software engineering for i..

Platinum Corp Launches Luxury Suites in Santacruz

Platinum Corp has recently launched Platinum Stellar: Bespoke Presidential Suites, a premium residential project in Santacruz West, Mumbai. The development is positioned as a boutique luxury offering for homebuyers seeking expansive layouts, privacy and personalised living experiences.Located on Main Avenue, the project has been designed as a low-density, high-end residential address with spacious homes starting from 2,500 sq ft and extending to full-floor residences. The project targets HNIs, business owners and legacy residents from the Bandra-Khar-Santacruz belt.Platinum Stellar has been de..