Japanese multinational Sumitomo has bid a whopping ₹2,238 cr for a 3-acre plot in Mumbai's Bandra Kurla Complex
AdvertisementJapanese multinational corporation (MNC)
"We have received the bid from the company for the plot here. However, the bid will be scrutinised and evaluated and will undergo our processes for other formal approvals before it is finalised. We cannot fix a timeframe for this," Dilip Kawathkar, Executive Director,
The bid, which works out to around Rs 745 crore per acre, is billed among the biggest in the country in recent times, though the MMRDA officials declined to elaborate.
Officials said if Sumitomo Corporation wins the bid, it may be entitled to a floor space index (FSI) of 4 permissible on the BKC plot, or a built-up area of approximately a million square feet.
Established in 1919, the Tokyo headquartered Sumitomo Corporation is spread across Japan, Asia, Europe, America, Africa, East Asia and other countries globally, dealing in
Popular on BI
- Life and times of Rakesh Jhunjhunwala — the man behind the trader
- A 29-year-old woman found a mark on her head and was diagnosed with a fungal infection. It turned out to be invasive skin cancer.
- JPMorgan CEO Jamie Dimon told wealthy clients there's a chance the US is heading into 'something worse' than a recession, report says
- Aha takes the Netflix way to reach out to subscribers from small towns
- New Airtel and Reliance Jio prepaid plans compared
- Mobile accessories company Balaji Solutions files initial papers for public listing
- Ratan Tata launches Goodfellows which helps senior citizens make friends
- Rakesh Jhunjhunwala-backed Concord Biotech files for an IPO