Brookfield Acquires Jet Airways’ Office Space in Mumbai’s BKC for ₹370 Crore
Brookfield Asset Management has made a significant real estate acquisition in Mumbai’s Bandra-Kurla Complex (BKC) by purchasing an additional office floor in the 19-storey Godrej BKC tower for ₹370.25 crore. This transaction, conducted under the Insolvency and Bankruptcy Code (IBC) and overseen by the National Company Law Tribunal (NCLT), marks a strategic move for Brookfield in one of India’s most expensive commercial districts.
The newly acquired floor was previously owned by Jet Airways. Brookfield exercised its right of first refusal to match the winning bid by Bank of Baroda, as reported by The Economic Times. With this acquisition, Brookfield now occupies approximately 250,000 square feet across three contiguous floors in the same building.
The deal also includes exclusive parking rights and transfers Jet Airways’ seat on the building’s management board to Brookfield, enhancing its strategic influence over building operations. The newly acquired floor had been sealed by the Municipal Corporation of Greater Mumbai due to unpaid dues but was de-sealed in April following NCLT directions.
BKC, located in Mumbai, is India’s costliest commercial district and has recently been in the spotlight for closing land deals worth nearly ₹5,000 crore. Despite Mumbai’s limited land availability, the Mumbai Metropolitan Region Development Authority (MMRDA), the special planning authority (SPA) for BKC, successfully leased five land parcels from its landbank earlier this year for a term of 80 years, generating close to ₹5,000 crore in revenue.
One of these deals involved a consortium led by Brookfield, including Schloss Bangalore Ltd, Arliga Ecospace, and Schloss Chanakya Pvt. Ltd., which won the bid to lease 8,411 square meters of land in BKC's G Block. The land parcel has a development potential of 33,647 square meters and will be leased for 80 years at ₹1,302 crore.
BKC is home to several government offices, including the MMRDA, Goods and Services Tax (GST), Reserve Bank of India, Income Tax Department, and Family Court. The US consulate is also located nearby, near the Jio Convention Centre. Luxury hotels such as Sofitel and Trident are also situated in BKC.
Prominent companies with offices in BKC include Jio, Apple, Netflix, Google, Facebook, Amazon, the National Stock Exchange, Standard Chartered Bank, WeWork, CISCO, Pfizer, Spotify, and Blackstone. This acquisition by Brookfield further solidifies its position in one of India’s most prestigious commercial hubs, aligning with the company’s broader strategy to invest in high-growth markets.
This strategic move not only enhances Brookfield’s portfolio but also underscores the continued attractiveness of BKC as a prime location for corporate offices and development projects in Mumbai.
