In one of the largest real estate transaction of this year, RMZ Corp will acquire 100% stake in Essar Group commercial project Equinox Business Park in Mumbai’s Bandra-Kurla Complex for about Rs 2,400 crore.
“RMZ already hold 50% stake in the project the remaining stake buyout will happen by the end of this year. The acquisition will be funded by QIA and some other sovereign funds,” said two people having direct knowledge of the development.
RMZ Corp will take over the 1.25 million sq ft Equinox Business Park that is located in Mumbai’s prime CBD at Bandra Kurla Complex and was until now operated by Equinox Realty, the realty arm of Essar. The park is being renamed as RMZ Equinox Business Park.
Read more: Economic Times