Mumbai’s Real Estate Landscape to Witness Major Transformation

Mumbai, 8 November 2024 – GKW, a leader in warehousing and logistics solutions, has taken a major step into real estate development by signing a joint development agreement with Mahindra Lifespace Developers’ subsidiary, Anthurium Developers, to develop a sprawling 37-acre land parcel in Bhandup, Mumbai. The project is set to be one of the city’s largest mixed-use urban developments, with an ambitious 3.6 million square feet of residential, commercial, and retail spaces.

Prime Location and Connectivity: Bhandup’s Strategic Edge

The development in Bhandup, a fast-growing suburb of Mumbai, is poised to become a landmark due to its strategic location and connectivity. Bhandup offers quick access to key commercial centers and benefits from the Jogeshwari-Vikhroli Link Road, Eastern Express Highway, and extensive train and metro networks. The location provides ideal proximity to the city’s primary business districts, making it highly attractive to future residents and businesses.

Project Highlights and Development Vision

Focused primarily on residential spaces, the project will also feature essential commercial and retail components, creating a comprehensive urban environment. This move aligns with GKW’s strategy to expand its portfolio in the real estate sector, diversifying beyond its core expertise in warehousing and logistics. The project envisions creating a dynamic living and working space that aligns with Mumbai’s evolving urban landscape.

Key Facilitators: ANAROCK Capital and Khaitan & Co

The high-value deal was facilitated by ANAROCK Capital, with legal guidance provided by Khaitan & Co., underscoring the scale and strategic importance of the agreement. ANAROCK’s involvement highlights the potential market impact and commercial viability of this development.

GKW’s Real Estate Expansion Plans

Mr. K K Bangur, Chairman of GKW, expressed optimism about the project’s potential, stating, “This transaction aligns with our vision to expand our footprint in the real estate space. We look forward to working with the Mahindra team to develop a world-class, mixed-use project and create value for our shareholders.” GKW, known for its integrated warehousing operations in Kolkata, is making a notable leap into the Mumbai real estate market with this initiative.

About GKW Ltd.

Formerly Guest Keen Williams Limited, GKW is a prominent player in warehousing and logistics, headquartered in Kolkata. With a large land bank in Andul, Howrah, GKW has established itself as a major provider of on-demand warehousing near Kolkata’s administrative hub. Now, with the development of its 37-acre land parcel in Bhandup, GKW is set to make a significant mark in Mumbai’s real estate sector.

Outlook: A New Era for Bhandup and Mumbai Real Estate

This agreement signals a new chapter for GKW and the Bhandup area, bringing with it the potential for significant economic and infrastructural growth. The project promises to elevate Bhandup as a prime destination for mixed-use development, enhancing Mumbai’s reputation as a hub for innovative urban planning and sustainable growth.