Blackstone to invest $11 bn in Maharashtra to develop infra, data centers

Blackstone signed three agreements with the Maharashtra govt at the World Economic Forum in Davos. It plans to develop office complexes, hotels, malls, and warehouses in the Mumbai 3.0 region

Blackstone Group, the world’s largest alternative asset manager, is set to invest up to $11 billion in Maharashtra over the next three to five years. The funds will be directed toward developing real estate and infrastructure projects, including data centers in key cities across the state, according to a report by The Economic Times.

 

The US-based investor signed three significant agreements with the Maharashtra government at the World Economic Forum in Davos. Chief Minister Devendra Fadnavis, leading the state’s delegation, has hailed the collaboration as a boost for the state’s economy and infrastructure.

 

Key investments areas

 

Mumbai 3.0 Project: $5 billion will go toward the development of Karnala-Sai-Chirner New Town (KSC New Town), also known as Mumbai 3.0. This project aims to expand Mumbai’s capacity with new infrastructure, residential, and commercial spaces.

 

Data centers: $6 billion will be invested in data centers and other infrastructure across the Mumbai Metropolitan Region (MMR) in partnership with the Maharashtra Industrial Development Corporation (MIDC) and City & Industrial Development Corporation of Maharashtra (CIDCO).

 

Expanding presence in India

 

Blackstone is already a major player in India, managing over $50 billion in assets since entering the country in 2005. Maharashtra has been a key beneficiary, receiving 40 per cent of Blackstone’s investments.

 

Blackstone plans to develop office complexes, hotels, retail malls, and warehouses in the Mumbai 3.0 region. The company, in partnership with Panchshil Realty, has also committed to building advanced data centers under the Lumina CloudInfra brand.

 

Future plans of Blackstone

 

According to the reports, with over 135 million sq ft of commercial space and 55 million sq ft of logistics properties, Blackstone is India’s largest office owner and a leading logistics developer. The company is also a pioneer in Real Estate Investment Trusts (REITs) in India and is working on its third REIT.

 

Reliance to invest Rs 3.05 trillion

 

At the World Economic Forum in Davos, Reliance Industries Limited (RIL) has also entered into a Memorandum of Understanding with the Maharashtra government to invest Rs 3.05 trillion in the state. The investment will span key sectors, including new energy, retail, hospitality, and high-tech manufacturing, and is expected to create 300,000 jobs in the region.

 

“RIL has always been deeply committed to the idea of New India, under the visionary leadership of our honourable Prime Minister Narendra Modi. As the largest business group in India, we are spread across the country, furthering our commitment to build a great nation. In this regard, our Rs 3. 0.5 trillion MoU spread across new energy, retail, hospitality, green power, high-tech manufacturing is the step in that direction,” Anant Ambani, director of Reliance Industries, said.