Japanese companies Mitsubishi Estate and Sumitomo Corporation are set to invest in a 1.5 million sq ft premium office project in Bandra Kurla Complex (BKC) in Mumbai. The project has a gross development value of nearly Rs 8500 crore or $ 1billion, sources said.
Though the exact investment by the Japanese companies is not disclosed, landowner Kanakiya group has formed a JV with Mitsubishi and Sunitomo and US based Hines will develop the project, Kanakiya said on Friday. Around Rs 3000 crore will be the total investment, sources said.
The site, spanning 3 acres in BKC, will be designed by renowned American architectural firm Kohn Pedersen Fox (KPF) and aims to achieve LEED, WELL, WiredScore, and SmartScore certifications.
“This site holds special significance for us, and we are confident that Hines will bring a world-class product that will set new standards in India. We will continue to explore similar partnerships in the future to drive sustainable value creation.”Rasesh B. Kanakia, Chairman, Kanakia Group said.
