Kanakia Group has announced a strategic joint venture with Hines, Mitsubishi Estate Co. (MEC), and Sumitomo Corporation to develop a large-scale commercial project in Bandra Kurla Complex (BKC), Mumbai. The project, set to span across a three-acre land parcel, will offer a total of 1.5 million sq ft of office space, catering to the growing demand for premium commercial real estate in one of Mumbai's most sought-after business districts.

In this partnership, Kanakia Group serves as the land partner, while Hines, MEC, and Sumitomo Corporation bring their expertise as institutional investors and development partners. The project, which is being designed by global architecture firm Kohn Pedersen Fox (KPF), is poised to become a significant addition to Mumbai's commercial infrastructure.

As part of its strategic shift towards an asset-light business model, Kanakia Group has reduced its debt to under 1,000 crore. The company currently has over 8.6 million sq ft of upcoming projects with a gross development value (GDV) of 12,825 crore, demonstrating its continued commitment to expanding its footprint in the real estate sector.

The new office space project in BKC is expected to meet the growing demand for modern, high-quality office spaces, providing a prime location for businesses in the heart of Mumbai’s commercial hub.