Partnering with Jet Airways, Godrej Properties will develop a commercial project in the Bandra Kurla Complex in Mumbai. The airline and the realty firm will hold equal shares of the project named Godrej BKC.
Real estate wing of Godrej Group, Godrej Properties Ltd. (GPL) will launch a commercial project, named Godrej BKC, in the Bandra Kurla Complex area. Jet Airways will partner with Godrej Properties for the development of this commercial project.
The construction has already been started and the project is expected to get over by 2015-end.
Pirojsha Godrej, the Managing Director and Chief Executive of GPL; while commenting on the project, said that the firm expects to create around Rs.3,500-4,000 Cr from the project. He added that the project will be completed within two to three years.
However, he kept his lips crossed when asked about the financial details of the project. So far no financial details are available.
The cost will be borne by both Jet Airways and Godrej Properties equally. They will have 50 – 50 share in the project named Godrej BKC. Jet Airways has already reserved 2.5 lakh sq. ft. of office space in the project. The total salable space in Godrej BKC is 1.3 million sq. ft. Continue reading