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Property

Sumitomo to invest $3.6bn in India office complexes

Japan company expands in country on verge of becoming most populous

The Bandra Kurla Complex is a business and residential district that is rapidly developing in Mumbai, partly thanks to its proximity to the metropolis' airport. (Photo by Ryosuke Hanada).

TOKYO -- Japan's Sumitomo Realty & Development will invest 500 billion yen ($3.58 billion) in office building projects in India, expanding in what is projected to become the world's most populous nation mere months from now.

The company recently spent 35.1 billion yen acquiring about 12,000 square meters of land in the Bandra Kurla Complex, known as BKC, a rapidly developing business and residential district of Mumbai, Nikkei has learned. The plot is one of the largest office building sites in BKC.

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