Mitsubishi and Sumitomo Invest in 1.5 Million Sq Ft LEED-Certified Office Project in Mumbai
Japanese giants Mitsubishi Estate and Sumitomo Corporation are investing in a premium office project in Mumbai's Bandra Kurla Complex, aiming to set new standards in sustainable real estate.
Real EstateSustainable DevelopmentLeed CertificationJoint VentureBandra Kurla ComplexReal EstateMay 31, 2025
Though the exact investment by the Japanese companies is not disclosed, the landowner, Kanakiya Group, has formed a joint venture (JV) with Mitsubishi and Sumitomo. Additionally, US-based Hines will develop the project, as announced by the Kanakiya Group on Friday. The total investment is estimated to be around Rs 3,000 crore, according to sources.
The site, spanning 3 acres in BKC, will be designed by the renowned American architectural firm Kohn Pedersen Fox (KPF). The project aims to achieve LEED, WELL, WiredScore, and SmartScore certifications, setting new standards in sustainable commercial real estate.
“This site holds special significance for us, and we are confident that Hines will bring a world-class product that will set new standards in India. We will continue to explore similar partnerships in the future to drive sustainable value creation,” said Rasesh B. Kanakia, Chairman of the Kanakia Group.
The project's commitment to sustainability and cutting-edge design is expected to attract top-tier tenants, further enhancing the commercial landscape of Mumbai's BKC. The collaboration between Mitsubishi, Sumitomo, Kanakiya Group, and Hines underscores the growing trend of international investment in India's real estate sector, particularly in high-value, sustainable projects.
The Bandra Kurla Complex is one of Mumbai's most prominent business districts, home to numerous corporate headquarters and financial institutions. The new office project is poised to add a significant boost to the area's real estate market, offering state-of-the-art facilities and a focus on environmental sustainability.
With the growing emphasis on green buildings and sustainable practices, this project is not only a strategic investment but also a forward-looking initiative that aligns with global trends in commercial real estate development. The Kanakiya Group's partnership with Mitsubishi, Sumitomo, and Hines is a testament to the synergies that can be achieved through international collaboration and a shared vision for sustainable growth.
The development of this project is expected to create numerous job opportunities and contribute to the economic development of the region. It also highlights the potential for more such collaborations in the future, as Indian and international companies continue to explore opportunities in the rapidly evolving real estate market.
In conclusion, the 1.5 million square foot office project in BKC, backed by Mitsubishi, Sumitomo, and Hines, is set to redefine the standards of sustainable commercial real estate in Mumbai. The project's focus on environmental sustainability and cutting-edge design positions it as a leading example of what can be achieved through strategic partnerships and a commitment to innovation.
Frequently Asked Questions
What is the total area of the new office project in BKC?
The new office project in the Bandra Kurla Complex (BKC) covers an area of 1.5 million square feet.
Who are the key investors in the project?
The key investors in the project are Japanese companies Mitsubishi Estate and Sumitomo Corporation, along with the landowner Kanakiya Group and US-based developer Hines.
What is the estimated gross development value of the project?
The estimated gross development value of the project is nearly Rs 8,500 crore or $1 billion.
What certifications is the project aiming to achieve?
The project aims to achieve LEED, WELL, WiredScore, and SmartScore certifications.
Who is the chairman of the Kanakiya Group?
Rasesh B. Kanakia is the Chairman of the Kanakiya Group.
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