{"id":17754,"date":"2022-01-23T17:07:00","date_gmt":"2022-01-23T11:37:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-blackstone-investment\/"},"modified":"2022-01-23T17:07:00","modified_gmt":"2022-01-23T11:37:00","slug":"biz-blackstone-investment","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-blackstone-investment\/","title":{"rendered":"Blackstone invests over Rs 50 cr to redevelop one-mile road stretch in Mumbai"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3136818774\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> Mumbai, Jan\u00a023 (PTI)\u00a0Nucleus Office Parks, the real\u00a0estate platform owned by global investment major Blackstone&#8217;s realty funds, has redeveloped a one-mile stretch of a street in Mumbai&#8217;s central business district of the Lower Parel area at an investment of over Rs 50 crore.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-639512104\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The one mile area has safer pedestrian pathways and community spaces\u00a0for residents, said the PE major that owns and manages assets worth over USF 60 billion in India.<\/p>\n<p> Though Blackstone didn&#8217;t disclose the investment for this public-private partnership initiative with the BMC, a civic body official told PTI that the fund has spent over Rs 50 crore in the redevelopment of the street.\u00a0 \t The stretch was formally opened to the public this evening by the state&#8217;s Tourism Minister Aditya Thackeray. The upgrading project took more than a year for completion, said the fund that has over USD 20 billion in realty assets in the country across 41 properties since 2006, making it the largest foreign fund in the space.\u00a0 \t Thanking Blackstone for its support, Thackrey said it\u00a0is encouraging to see the private sector step forward and collaborate with the local government and authorities to improve the city&#8217;s infrastructure.<\/p>\n<p> The mile-long stretch of the road sitting at the junction between\u00a0Dadar, Elphinstone and Lower Parel is a high-volume traffic area with more than one lakh commuters per day.<\/p><div class=\"trade-content_5\" id=\"trade-691825308\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Nucleus Office Parks has streamlined traffic and vehicle lanes by constructing\u00a0two signals and one U-turn junction. The project also created\u00a02.5 km of\u00a0pedestrian walkway\u00a0and 2.5 km of\u00a0dedicated\u00a0cycling\u00a0tracks apart from an afforestation of 1.5 acres.<\/p>\n<p> Tuhin Parikh, head (real estate) at Blackstone\u00a0India, said the company has contributed\u00a0to\u00a0several initiatives to help build communities in India. The Mumbai streetscape project\u00a0helps\u00a0make roads safer and more accessible.<\/p>\n<p> Nucleus Office Parks CEO Quaiser Parvez said it worked all through 2021 in upgrading one of the city&#8217;s arterial streets into a world-class. PTI BEN  HRS hrs<\/p>\n<div class=\"trade-after-content\" id=\"trade-388244577\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, Jan\u00a023 (PTI)\u00a0Nucleus Office Parks, the real\u00a0estate platform owned by global investment major Blackstone&#8217;s realty funds, has redeveloped a one-mile stretch of a street in Mumbai&#8217;s central business district of the Lower Parel area at an investment of over Rs 50 crore. The one mile area has safer pedestrian pathways and community spaces\u00a0for residents, said [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-17754","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blackstone invests over Rs 50 cr to redevelop one-mile road stretch in Mumbai - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-blackstone-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone invests over Rs 50 cr to redevelop one-mile road stretch in Mumbai\" \/>\n<meta property=\"og:description\" content=\"Mumbai, Jan\u00a023 (PTI)\u00a0Nucleus Office Parks, the real\u00a0estate platform owned by global investment major Blackstone&#8217;s realty funds, has redeveloped a one-mile stretch of a street in Mumbai&#8217;s central business district of the Lower Parel area at an investment of over Rs 50 crore. 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