ICICI Prudential AMC has acquired a full office tower in Mumbai from Kalpataru for Rs 315 crore, marking a strategic expansion and likely housing their new headquarters.
In a significant move, ICICI Prudential Asset Management Company (AMC) has bolstered its presence in Mumbai’s commercial real estate market by acquiring an entire office tower in Santacruz for over Rs 315 crore. The seller is Ixora Properties Pvt Ltd, a subsidiary of the well-known developer Kalpataru. This strategic acquisition provides ICICI Prudential AMC with over 60,000 sq ft of prime office space spread across 12 floors, three basements, and ground floor parking.
The deal, finalized on June 27th, involved a stamp duty payment of more than Rs 18.90 crore, signifying a substantial investment by the asset management company. Industry sources suggest that this newly acquired property is likely to be the new headquarters for ICICI Prudential AMC. Renovation work is expected to begin soon, paving the way for a potential operational shift to the new location next year. This move comes amidst a growing trend of companies strategically investing in office spaces to suit their evolving needs.
