Japanese conglomerate Nishi-Nippon Railroad Co Ltd (Nishitetsu) is set to make its entry into India’s real estate market through a partnership with Mumbai’s Runwal Enterprises.
The collaboration aims to jointly develop a commercial project worth Rs 2,000 crore in Kurla, close to the Bandra-Kurla Complex business district.
Covering over 3,000 sq. meters, the project will feature over 310,000 sq. ft. of leasable Grade-A commercial office space.
Investment management firm Route78 Partners is also participating in this venture.
This represents Nishitetsu’s first overseas office development and is part of a broader initiative to expand its urban development presence across Asia.
Nishitetsu stated, “This marks our inaugural participation in an international rental office development project. As part of our 16th Medium-Term Management Plan, we aim to expand profits from our overseas real estate business, continuously striving to accumulate knowledge and contribute to the sustainable development of cities abroad.”
Genkai Capital Secured Investment Pte Ltd (GCSI), affiliated with Singapore’s Genkai Capital Group, is also expected to invest alongside Nishitetsu, Runwal Enterprises, and Route78 Partners.
“At Route78 Partners, our goal is to support Indian real estate companies with long-term equity capital,” said Avinash Sule, founding partner of Route78 Partners. “This alliance with Runwal Enterprises and NNR, Japan aligns with our aim to channel institutional capital into real estate development in India.”
Industry experts indicate that for Runwal Enterprises, this partnership highlights a commitment to attract institutional capital and solidify its presence in Mumbai’s premium commercial real estate sector. The company has shifted from a focus on affordable housing to premium and luxury developments.
Runwal Enterprises has chosen not to comment on the partnership.
Nishitetsu, founded in 1908 and headquartered in Fukuoka, Japan, is a diversified conglomerate with interests in transportation, logistics, retail, leisure, and real estate. With over a century of expertise in Japan’s urban landscape, the company is now looking to expand globally, focusing on sustainable growth and quality urban development across Asia and beyond.
Global investors are increasingly active in India’s real estate market, driven by ongoing demand, clearer regulations, and an expanding urban infrastructure pipeline.
Institutional capital is trending toward commercial offices, industrial parks, data centers, and residential developments as long-term investors seek stable returns and scaling opportunities. This momentum is expected to persist as India’s development activity and market depth draw more global capital across various asset classes.
