September 8, 2023
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Bombay Dyeing to Sell 18 Acres Mumbai Property for Rs 5,000 Cr to Japanese Conglomerate
Bombay Dyeing is reportedly in a discussion to sell 18 acres of its mill land on Pandurang Budhkar Marg in Worli to the Japanese conglomerate Sumitomo for approximately Rs 5,000 crore.
According to the reports, a public notice by the law firm Wadia Ghandy on behalf of an unnamed client was looking to investigate the right, title and interest of the Bombay Dyeing and Manufacturing Co limited, a diversified company engaged in real estates, textiles and polyester, that measured to more than one lakh sq m at Worli.
Biggest land deal in Mumbai
This deal could turn out to be one of the biggest deals in Mumbai. However, a few years ago, Brookfield Asset management bought Hiranandani Group’s offices and retail space in Powai for Rs 6,700 crore making it the biggest deal. But, the deal was for the buildings while the Wadia deal is for vacant land.
As the deal is for vacant land the building is being vacated. While the chairman’s office has been shifted to Dadar-Naigaum, Shilpa Shetty-owned Bastian restaurant has been shuttered.
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