In a significant collaboration, Adani Realty has partnered with Marathon Nextgen Realty Limited for a large mixed-use development in Mumbai. The project, "Monte South Commercial," will occupy about 1.2 million square feet and have an estimated GDV of approximately ₹3,400 crore.
Monte South Commercial is located in the Byculla area of South Mumbai on the larger Monte South campus that already includes four residential towers, which are more than 64 stories high, and a total of more than 1.6 million square feet of residential sale carpet area.
The commercial sides of the development will consist of premium office space, retail space, and modern amenities that will be organized to provide usable floor plates, high-quality architecture, and sustainable development.
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From an industry standpoint, the partnership signifies a meaningful extension for Adani Realty into the upscale commercial real estate market in Mumbai, leveraging Marathon’s legacy campus at Monte South. For Marathon Nextgen, this joint venture reinforces its commercial portfolio in a highly sought-after Grade-A office market in the city. Mayur Shah, Marathon’s Vice-Chairman, stated, "Monte South Commercial will set a new standard for businesses in south Mumbai, combining excellence in design, operational efficiency, and ultimate value."
This joint venture is timely, given trends in the office-retail market in Mumbai, and is seen as a prominent proposition given the project's size and GDV. With an integrated residential-commercial product, the project seeks to capitalize on live-work-play opportunities in the city centre, also indicating confidence from two major players in the real estate sector.
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