MUMBAI: Real Estate developer NirlonNSE -1.16 % today signed a long-term leave and license agreement with J.P. Morgan, the global banking and financial services provider, for premium office space at Nirlon Knowledge Park (NKP) in Mumbai.
“Moving to Nirlon Knowledge Park helps us consolidate most of our offices in Mumbai into one location,” said Kalpana Morparia, Chairman, South and Southeast Asia, J.P. Morgan. It also further demonstrates our long-term commitment to ensuring a world-class working environment for our employees.”
“Mumbai is a critical hub for J.P. Morgan,” she said.
J.P. Morgan will take up about 1.15 million sq. ft. of office space that is expected to be delivered by the second quarter of 2021, the company said in release. NKP has a site area of 23 acres and is located on Mumbai’s Western Express Highway in Goregaon.
NKP houses some of the top global and Indian corporates with approximately 1.8 million square feet of IT/ITES office space already licensed.
“This development further consolidates Nirlon’s position as a leading owner and operator of a world-class business park in Mumbai,” said Rahul Sagar, CEO and Executive Director, Nirlon Ltd.
NKP currently comprises approximately 1.8 million square feet of chargeable area and 3 million square feet of constructed area.
“Once the current phase of development is complete, it will have approximately 3 million square feet of chargeable and 5 million square feet of constructed area,” the company said in a release.