Hiranandani’s Powai realty assets may go for $1 billion to Brookfield
The Hiranandani Group is close to selling its prime office and retail assets in Powai to Canadian alternate asset manager Brookfield in a deal valued at around $1 billion (Rs6,700 crore), in one of India’s largest real estate deals. An announcement is expected soon, people involved with the development said.
The Hiranandani Group refused to comment, while a mail sent to Brookfield remained unanswered till the time of going to press. Under the proposed deal, Hiranandanis will sell 4.5 million square feet of office and retail assets in Powai, an upmarket locality that has residential and commercial complexes. The commercial assets are leased out to clients, including IT major Tata Consultancy Services, investment bank Nomura and consulting firm Deloitte.