MMRDA allots BKC plots to Sumitomo, Brookfield for Rs 3,840 crore

Plots in Mumbai's BKC allotted to Sumitomo and Brookfield-linked firms for Rs 3,840 crore with plans for mixed-use and office developments including a luxury hotel

The Mumbai Metropolitan Region Development Authority (MMRDA) allotted plots in Mumbai’s Bandra Kurla Complex (BKC) to entities related to Japan’s Sumitomo Realty & Development and the US-based Brookfield for Rs 3,840.49 crore via competitive bidding.

 

The government agency handed over allotment letters for plots C-13, C-19 and C-80 to the concerned entities in the presence of the Chief Minister of Maharashtra, Devendra Fadnavis, on Tuesday, 3 June.

 

Goisu Realty, a group company of Sumitomo Realty & Development, has been allotted plot C-13 and C-19 for Rs 1,360.48 crore (39.61 per cent above the base price) and Rs 1,177.86 crore (40.20 per cent above the base price), respectively.

 

The lease for plot C-80 has been awarded to Schloss Bangalore, the operator of a luxury hotels and resorts chain under the ‘The Leela’ brand name, for Rs 1,302.16 crore (12.34 per cent above the base price).

 

The company intends to develop a mixed-use project, including a 250-key luxury hotel on this plot. The project is a joint venture of Brookfield with the consortium of Schloss Chanakya and Arliga Ecospace Business Park. 

 

Meanwhile, Goisu already has two office projects in BKC, with one of them scheduled for completion after 2026.

 

The developments follow the Memoranda of Understanding (MoUs) signed by MMRDA at the World Economic Forum 2025, Davos (Switzerland), where investments of USD 12 billion were committed by Brookfield and USD 5 billion by Sumitomo for infrastructure development in the Mumbai Metropolitan Region (MMR), MMRDA noted in a post on social media platform X.

 

The total built-up area of all three plots is 86,321.80 square metres. MMRDA is expecting 15,000 high-tech jobs to be created through the developments on the plots.

 

Recently, Sumitomo entered into an office building development project in BKC through a three-way partnership with Hines, a US-based global real estate investment manager and developer, Japan’s Mitsubishi Estate Company, and Mumbai-based real estate developer Kanakia Group.

 

The project’s gross development value (GDV) is estimated to be around USD 1 billion, according to a source familiar with the matter.

 

The consortium will develop a premium office project in Mumbai’s BKC, India’s costliest office hub, with an investment of Rs 3,000 crore.

 

Queries sent to Brookfield could not fetch immediate responses.