Blackstone Eyes Prime Real Estate Project in BKC Mumbai With Adani Link

Office space demand in India's six major cities will remain healthy this year as domestic and foreign firms are expected to lease 50-55 million square feet area to expand their businesses.
Blackstone Eyes Prime Real Estate Project in BKC Mumbai With Adani Link

Blackstone Eyes Prime Real Estate Project in BKC Mumbai With Adani Link. Image Source: Canva

US-based private equity major Blackstone Group is reportedly in advanced negotiations to acquire an office tower spanning 800,000 square feet in Mumbai, with the deal valued between Rs 1,800 crore to Rs 2,000 crore. Notably, the real estate venture is owned by billionaire Gautam Adani. Situated on the periphery of Mumbai's thriving business hub, the Bandra-Kurla Complex (BKC), the commercial real estate project, dubbed Inspire BKC, falls under Adani Realty’s portfolio.
Over recent years, Adani Group's real estate arm has been exploring options for monetizing this 10-storey office edifice, engaging in discussions with both global and domestic investors, including Brookfield India and Shapoorji Pallonji Investment Advisors. Previously, Blackstone Group had expressed interest in acquiring this property. Among its prominent tenants, the office tower boasts Novartis, Reliance Nippon Life Insurance, Ascendas Firstspace Development Management, and MUFG Bank, as per report on ET.
Office space demand in India's six major cities will remain healthy this year as domestic and foreign firms are expected to lease 50-55 million square feet area to expand their businesses, according to a FICCI-Colliers report. Gross leasing of office space stood at 58.2 million square feet across six major cities namely Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai and Pune.
The demand could go up to 55-60 million square feet in an optimistic scenario, while the leasing numbers could drop to 45-50 million square feet in a pessimistic scenario, as per PTI report.
End of Article
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news
news