TOKYO/MUMBAI -- Sumitomo Realty & Development is embarking on a 500 billion yen ($3.34 billion) redevelopment project in downtown Mumbai, Nikkei has learned, as Japanese developers flock to fast-growing emerging economies with healthy office markets.
The Japanese developer plans to build offices, a hotel and commercial facilities on a roughly 80,000-sq.-meter former factory site. This will be among the largest real estate projects in India to be handled by a foreign company on its own.
