The already escalating stock of residential and commercial properties in central Mumbai is going to receive further boost as Birlas are all set to change Mumbai’s urban landscape by developing a 20-acre property at the site of a textile mill in Worli.
The BK Birla Group firm Century Textiles has reportedly hired the Shapoorji Pallonji group to accomplish the task. The billionaire Pallonji Mistry-owned Shapoorji Pallonji group is also building a 25-storey commercial tower reality project, called Century International, behind Century Bhawan in Worli, Mumbai. In addition, the group has begun soil testing to build residential towers in a 10-acre property at Prabhadevi.
Meanwhile, Aditya Birla Group’s chairman Kumar Mangalam Birla has plans to use a plot of land bought from multinational pharma firm Rhone-Poulenc in 2003 to build a multi-storey building at a location adjoining to group’s corporate headquarters in Worli.
Shares in Pilani Investments, which handles promoters’ investments in Century Textiles, are co-owned by Kumar Mangalam Birla and BK Birla. Kumar Mangalam Birla will sooner or later inherit ownership of most BK Birla group companies, including Century Textiles.
An IT park, commercial buildings and a five-star hotel will surface at the 20-acre mill land. The Aditya Birla group’s new office building is expected to house executives of companies like Hindalco and Grasim.
Commenting on Birlas’ new projects, property consultancy firm Knight Frank’s chief Pranay Vakil said, “This will continue to make a huge difference to the urban landscape of Mumbai. In the course of time, the centre of gravity will shift from Nariman Point to Central Mumbai where 15,000 apartments are being added.”
Century Textiles has appointed a property management team to complete the construction within 12 to 15 months. Anil Mishra will spearhead the project. Senior executive Sashank Bodke has been shifted to the property team, while a top executive of the group is monitoring the construction of Century International.
Other groups are also contributing in changing Mumbai’s urban landscape. The Wadia Group has recently built a corporate office for Axis Bank at its mill land in Worli, while hotel brand Shangri-La is planning to construct its new five-star hotel in an adjacent location.
The BK Birla Group firm Century Textiles has reportedly hired the Shapoorji Pallonji group to accomplish the task. The billionaire Pallonji Mistry-owned Shapoorji Pallonji group is also building a 25-storey commercial tower reality project, called Century International, behind Century Bhawan in Worli, Mumbai. In addition, the group has begun soil testing to build residential towers in a 10-acre property at Prabhadevi.
Meanwhile, Aditya Birla Group’s chairman Kumar Mangalam Birla has plans to use a plot of land bought from multinational pharma firm Rhone-Poulenc in 2003 to build a multi-storey building at a location adjoining to group’s corporate headquarters in Worli.
Shares in Pilani Investments, which handles promoters’ investments in Century Textiles, are co-owned by Kumar Mangalam Birla and BK Birla. Kumar Mangalam Birla will sooner or later inherit ownership of most BK Birla group companies, including Century Textiles.
An IT park, commercial buildings and a five-star hotel will surface at the 20-acre mill land. The Aditya Birla group’s new office building is expected to house executives of companies like Hindalco and Grasim.
Commenting on Birlas’ new projects, property consultancy firm Knight Frank’s chief Pranay Vakil said, “This will continue to make a huge difference to the urban landscape of Mumbai. In the course of time, the centre of gravity will shift from Nariman Point to Central Mumbai where 15,000 apartments are being added.”
Century Textiles has appointed a property management team to complete the construction within 12 to 15 months. Anil Mishra will spearhead the project. Senior executive Sashank Bodke has been shifted to the property team, while a top executive of the group is monitoring the construction of Century International.
Other groups are also contributing in changing Mumbai’s urban landscape. The Wadia Group has recently built a corporate office for Axis Bank at its mill land in Worli, while hotel brand Shangri-La is planning to construct its new five-star hotel in an adjacent location.
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