Nishitetsu and Runwal Enterprises Join Forces for ₹2,000 Crore Kurla Office Project in Mumbai

Japanese conglomerate Nishitetsu and Mumbai-based developer Runwal Enterprises have announced a strategic partnership to develop a ₹2,000 crore commercial office project in Kurla, one of Mumbai’s prime business districts. The project, located close to the Bandra-Kurla Complex (BKC), will span over 3,000 square meters and offer more than 310,000 square feet of leasable Grade-A commercial office space.

Route78 Partners, an investment management firm, has also joined the project by providing long-term equity capital. This collaboration marks Nishitetsu’s first participation in an overseas rental office development project, aligning with the company’s 16th Medium-Term Management Plan to expand its profits from overseas real estate business.

Nishitetsu’s statement underscores their commitment to sustainable urban development: “This marks our first participation in an overseas rental office development project. As a key strategy of our 16th Medium-Term Management Plan, we are promoting the expansion of profits from our overseas real estate business. Going forward, we will continue to strive to further expand our overseas real estate business and accumulate know-how, contributing to the development of sustainable cities overseas.”

Genkai Capital Secured Investment Pte Ltd (GCSI), a part of Singapore-based Genkai Capital Group, is expected to invest alongside Nishitetsu, Runwal Enterprises, and Route78 Partners. Avinash Sule, Founding Partner of Route78 Partners, highlighted the firm’s objective: “At Route78 Partners, our objective is to back the real estate companies in India with long-term equity capital. This partnership with Runwal Enterprises and NNR, Japan aligns with our objective of channeling institutional capital into real estate developments in India.”

Runwal Enterprises’ collaboration with Nishitetsu represents a significant milestone in their goal to attract institutional investments and strengthen their position in the Mumbai premium commercial real estate sector. Over the years, Runwal has expanded from affordable and middle-income housing to high-end and luxury housing developments.

Nishitetsu, established in 1908 and headquartered in Fukuoka, Japan, is a major conglomerate with diverse business interests in transportation, logistics, retail, leisure, and real estate. With over a century of experience in Japan, the company is now expanding its footprint globally, focusing on sustained growth and high-quality urban development across Asia.

Market experts observe that international investors are increasingly drawn to the Indian real estate market due to its continuous demand, transparent regulations, and large-scale urban infrastructure projects. They are particularly interested in commercial offices, industrial parks, data centers, and residential developments, seeking stable returns and large-scale growth opportunities.

Analysts predict that this positive trend will continue, making India an attractive destination for global capital across various asset classes. The partnership between Nishitetsu and Runwal is a prime example of this trend, where Shanghai-based Fuji Realty Global Partners is investing in the Mumbai office project to combine foreign expertise with local knowledge, aiming to set new standards in quality and sustainability.

The Kurla office project is a significant step forward for foreign investors expanding their interests in India, reflecting the city’s evolving commercial landscape where institutional-grade developments are becoming increasingly dominant. By leveraging Nishitetsu’s international experience and Runwal’s local market insight, the project aims to transform Mumbai’s office spaces into world-class facilities.