Kanakia Group has formed a joint venture with US-based Hines and Japanese conglomerates Mitsubishi Estate Co. and Sumitomo Corporation to develop a 1.5 million square feet premium office project in Mumbai’s Bandra Kurla Complex. The trophy office development will be built on a 3-acre land parcel and designed by American architecture firm Kohn Pedersen Fox.
Beyond this BKC project, Kanakia has an additional portfolio of 8.6 million square feet in upcoming developments with a gross development value of ₹12,825 crore. The company has shifted toward an asset-light model and reduced its debt to below ₹1,000 crore.
Rasesh B. Kanakia, Chairman of Kanakia Group, said the partnership would set new standards in India’s commercial real estate sector. Amit Diwan, Senior Managing Director at Hines India, noted that the project represents a significant milestone for the firm’s Indian operations.
The development will target multiple certifications including USGBC LEED, WELL, WiredScore, and SmartScore. It will feature integrated amenities including food and beverage outlets and retail zones. The site benefits from connectivity through the BKC Connector Road, upcoming Metro lines, and the planned Mumbai-Ahmedabad Bullet Train terminus.
Kanakia Group has delivered over 15 million square feet across various sectors over 36 years, including 45 residential projects and 13 commercial developments.
Published on May 30, 2025