Brookfield Group subsidiary Moon Holdings (DIFC) has entered a multifaceted transaction with Supreme Infrastructure India promoter group companies BSS Property Ventures and Rajeshwar Property Ventures, said persons with direct knowledge of the development. The deal will allow the global alternative investment major to expand its commercial real estate portfolio in India that currently stands at 55 million sq ft, of which around 9 million sq ft is in the country’s financial capital. This specific transaction includes two principal components, the acquisition of majority shareholding in these Special Purpose Vehicles (SPVs) that have entered into a pact to get control of around 6 acres of prime land in Mumbai’s Powai locality,” said one of the persons mentioned above. This deal also includes permissible floor space index (FSI) of more than 1 lakh sq ft in favour of the SPVs. Brookfield has already invested over Rs 600 crore and is expected to invest more to build grade A office properties. Landowner Bhawanishankar Sharma has already registered two separate agreements for sale of land and the free-sale component with his two SPVs--BSS Property and Rajeshwar Property. Brookfield has been expanding its commercial real estate portfolio in Mumbai. In January, the company signed a pact with the MMRDA to invest $12 billion in various infrastructure projects across the Mumbai Metropolitan Region. In February, the company emerged as the sole bidder for a plot in the Bandra-Kurla Complex (BKC) during an auction conducted by MMRDA. It recently acquired an 8% stake in Nirlon Ltd, the owner of Nirlon Knowledge Park further solidifying its presence in the city's office space market. 
 

https://www.livehomes.in/news_letter