Essar Group has signed a definitive agreement with RMZ Corp to sell Equinox Business Park, a 1.25 mnsft office space prominently located in Mumbai’s prime CBD at Bandra-Kurla Complex for approx. Rs 2400 cr. This is the largest real estate property transaction this year so far.
“This transaction fits in with Essar’s strategy of successfully building businesses and actively managing the portfolio of assets to create and deliver value. This is in line with the present objective and focus of Essar to monetise non core assets and deleverage the balance sheet. RMZ is one of the pioneer in commercial real estate development in India and I am sure this asset will create an exciting future platform for RMZ, its customers and stakeholders in Mumbai and the western region,” Anshuman Ruia, Essar said.