Bandra-Kurla Complex (BKC), the business district of Mumbai city, has emerged as one of the most preferred and strategic commercial plus residential real estate locations in the country, claims an international property consultancy firm Jones Lang Lasalle (JLL).
The BKC, which is one of the most sought-after locations in the city, has come a long way since it was reclaimed from marshlands in 1845.
It is noteworthy that the BKC is already home to the US consulate, the British high commission and the consulates of Australia and New Zealand. Over the last twelve months, the consulates of Belgium, Sweden and France have also preferred locations in the BKC for office/residential purposes.
Ramesh Nair, managing director (west) of the Jones Lang LaSalle, India, says, “Currently, a number of other consulates continue to operate from residential villas on Nepean Sea Road and at Malabar Hill. These locations, though inherently high profile on the Mumbai real estate landscape, do not offer the kind of buildings, which suit the precise needs of these establishments. This is why the Bandra-Kurla Complex is emerging as a hub for consulates.”
Mr Naik further said, “It will be interesting for serious real estate observers to track the relocation trend, which will doubtlessly cause more and more of the city’s consulates to find more suitable operating bases in the future. Consulates have specific requirements for the office spaces they opt for.”