Bank of Baroda has emerged as the highest bidder for Jet Airways’ 83,000 sq ft office space in Mumbai’s Godrej BKC, offering Rs 370 crore. Brookfield Asset Management, which already owns office space in the building, holds the right of first refusal and is likely to exercise it.
NEW DELHI: The Mumbai Metropolitan Region Development Authority (MMRDA) has approved the allotment of a commercial plot in Bandra-Kurla Complex, Mumbai to a consortium led by Schloss Bangalore. The company along with its subsidiary Schloss Chanakya and Arliga Ecospace Business Parks, an affiliate of Brookfield, submitted a binding bid to lease the plot for a duration of 80 years. The plot area is 8,411.88 sq meters and the permissible built-up area is 33,647.52 sq meters. This is subject to demarcation and may vary as per site condition. The total lease premium payable is ₹1302 crore wherein 25% of the total…
NEW DELHI: Kanakia Group has entered into a joint venture with Hines, Mitsubishi Estate Co (MEC) and Sumitomo Corporation to develop a commercial project in Bandra Kurla Complex (BKC), Mumbai. Under the partnership, Kanakia Group is the land partner while Hines, MEC, and Sumitomo are institutional investors and development partners. The office space spread across three-acre land parcel and will offer 1.5 million sq ft. The project is being designed by Kohn Pedersen Fox (KPF). The company is transitioning towards an asset-light model which has led to reduction its debt to below ₹1,000 crore. Currently, Kanakia has over 8.6 million…
