Nippon Life India Asset Management has acquired 52,162 sq. ft. of office space in One Lodha Place, Lower Parel, Mumbai, for INR 486 crore. The deal, registered last week, includes two floors and exclusive signage rights for the 29th and 30th floors of the 36-floor commercial tower. Nippon Life plans to relocate its headquarters from Peninsula Business Park to this premium location, reflecting a strategic investment in Mumbai's thriving business district. This transaction underscores the resilience of demand for high-quality commercial spaces in the city, aligning with Nippon Life's growth trajectory and bolstering its corporate presence in a key financial hub.
Nippon Life India Asset Management has signed a definitive agreement with Macrotech Developers, known as Lodha, to acquire office space in Mumbai's Lower Parel business district. The transaction, valued at INR 486 crore, involves two floors in the commercial tower One Lodha Place, spanning 52,162 sq. ft.
The asset management company plans to relocate its headquarters from Peninsula Business Park, also in Lower Parel, to the new space. According to sources, the deal was registered last Thursday, with INR 400 crore expected to be paid by December 6. The agreement includes exclusive signage rights for the 29th and 30th floors of the 36-floor tower.
Nippon Life India, which specialises in managing mutual funds, exchange-traded funds (ETFs), portfolio management services, and offshore funds, has clarified in regulatory filings that the transaction does not involve related parties or shareholding ties with Lodha. While the company has not confirmed its relocation plans, the acquisition reflects a strategic investment in premium office space within a sought-after commercial hub.
One Lodha Place is positioned as a modern workspace catering to high-profile tenants. Its location in Lower Parel, a thriving business district, and the amenities it offers are likely key factors in Nippon Life India's decision. The move aligns with the company's growth trajectory as it continues to expand its operations in India.
This acquisition highlights the ongoing demand for premium commercial spaces in Mumbai, even amid economic uncertainties. With its relocation to One Lodha Place, Nippon Life India is expected to enhance its corporate presence in one of the city's prime business hubs.
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