NCW Buys Chennai Office Campus for Rs 25.5 Billion

03 Oct 2025 CW Team

Nuvama and Cushman & Wakefield-backed realty fund has acquired a 2.4 million sq ft office campus in Porur, Chennai, from Singapore-based Keppel Group for Rs 25.5 billion.

Nuvama and Cushman & Wakefield Management Pvt Ltd (NCW) is a 50:50 joint venture between Nuvama Asset Management and global real estate firm Cushman & Wakefield. The acquisition was made through NCW’s flagship fund Prime Offices Fund (PRIME), which targets premium commercial office assets in high-growth Indian markets.

“The asset was acquired through a 100 per cent buyout from Keppel’s real estate division, at a transaction value of Rs 25.5 billion,” NCW said in a statement.

PRIME, which marked its first close in 2025, has now completed its second acquisition. “This acquisition validates our strategy and execution. We are committed to building a portfolio aligned with the evolving priorities of global occupiers: sustainability, agility and institutional-grade quality,” said Gaurav Puri, Chief Investment Officer at NCW.

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