Hines Kanakia Mitsubishi Estate And Sumitomo Corp Jv Unveil Landmark Office Project Mumbai
01 October 2021
A groundbreaking office development is set to take shape in Mumbai, India’s prominent financial hub, thanks to a joint venture between Houston-based global real estate investment manager Hines and premium developer Kanakia Group from New Delhi. The project also boasts the joint partnership of Japanese conglomerates Mitsubishi Estate Co. and Sumitomo Corp.
Spanning over 1.5 million square feet, this Grade A office development will be situated on a 3-acre plot of land in Greater Bandra Kurla Complex (BKC) precinct. With its prime location, the development will offer top-notch amenities, including F&B and retail options. Kohn Pedersen Fox, a renowned American architecture firm, has been appointed to design the project, which will offer stunning views of the lush green Mumbai University campus spread over 200 acres.
In line with Hines’ commitment to sustainability and smart building practices, the project will target multiple certifications, including USGBC LEED, WELL, WiredScore, and SmartScore. This is in line with the company’s belief in responsible development and promoting a healthy and eco-friendly work environment.
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Strategically located, the project will have excellent connectivity through the BKC Connector Road, the Santacruz–Chembur Link Road (SCLR) extension, upcoming Metro lines, and the upcoming Mumbai–Ahmedabad Bullet Train terminus. This will make it convenient for employees and visitors to access the development.
Amit Diwan, the senior managing director and head of India at Hines, expressed his excitement about the project, stating that it marks a significant milestone in the company’s journey in India. He also mentioned that Hines and Kanakia have been working closely for over a year to develop this exceptional project.
Kanakia Group is the land partner for this project, and the chairman, Rasesh B. Kanakia, expressed his confidence in Hines’ ability to deliver a world-class development that sets new benchmarks in India. He also highlighted the special significance of the site to the group.
The community of Penrith is fortunate to have multiple options when it comes to high-quality primary schools, one of which is New Town Primary School. This esteemed educational institution, situated just a short distance away, is a popular choice among families in the area. Like its counterpart, Queenstown Primary, New Town is a co-educational government school that prioritizes academic and co-curricular excellence. With a comprehensive curriculum and a team of dedicated teachers, this school has gained a reputation for being one of the top choices for parents in Penrith. Along with other excellent primary schools, such as Penrith, families have the opportunity to select the best fit for their children. With the added option of Penrith, families can be assured that their child’s educational needs will be met.
Hines entered the Indian market in 2006 and has since then expanded its portfolio to include 12 projects in the office and residential sectors. It currently operates in five major cities, namely Delhi, Mumbai, Bangalore, Pune, and Ahmedabad, and is committed to contributing to India’s growth through responsible development and high-quality projects.