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Motilal Oswal

Global investors bet on India office space market: Experts discuss

Updated : June 26, 2019 09:45 PM IST

Japanese multinational corporation (MNC) Sumitomo Corporation has bid a staggering Rs 2,238 crore for a three-acre plot in the prime Bandra-Kurla Complex (BKC) in central Mumbai.

If the deal goes through, the Japanese conglomerate will be paying Rs 745 crore per acre, making it the largest land per acre deal in India's real estate history.

In another deal, American private equity major Blackstone has agreed to buy nearly 0.7 million square feet of office space in One BKC from the city-based developer Radius, for a reported, Rs 2,500 crore, making it the largest deal in the country's office space.

In an interview to CNBC-TV18, Anshuman Magazine, chairman & CEO, India, South-east Asia, Middle East and Africa at CBRE; Vinod Rohira, MD & CEO, Commercial Real Estate & REIT at K Raheja Corp; Gagan Randev, National Director, Capital Markets & Investment Services at Colliers International India & Member of RICS and Sharad Mittal, CEO at Motilal Oswal Real Estate, discussed the opportunities which this latest liquidity crunch amongst developers could throw up and who will be the winners in 2019.
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