Mumbai's six-decade-old Kamal Amrohi Studios, more famous as Kamalistan, is all set for a make-over to be redeveloped as the single largest commercial office park in the city. This substantial make-over will be spearheaded by Bangalore-headquartered RMZ Corp in collaboration with DB Realty and Avinash Bhosale Infrastructure. Shahid Balwa, Director, DB Realty expressed his optimism about this new project which will span 7 million sq. ft and is valued at nearly $3 billion (INR 21,000 crores). Key industry players have welcomed this development.
Located at the Jogeshvari-Vikhroli Link Road, Kamal Amrohi Studios was founded by the eponymous film director who directed well-known films like “Pakeezah”, “Razia Sultan” and “Mahal”. Heeding to the call of the times, this 25-acre property is now set for a new lease of life, work for which will begin by the end of this year. The studio will be renamed as Nexus. It is expected to host approximately 1.25 lakh work stations or jobs once it gets completed.
According to reports, RMZ Corp will have a 55% economic interest in the project while studio owners Bhosale and DB Realty will keep the remaining 45%. All decks have been cleared with Bhosale and DB Realty buying out the residual shareholding of the Amrohi family and settling unfinished legal cases that dogged the studio property for years.
Since its inception in 2007, Mumbai-based DB Realty has covered enormous ground in a short span of time to establish itself as a leading real estate developer in India. With Shahid Usman Balwa at the helm, DB Realty's expanding portfolio now consists of over 100 million sq. ft of prime property, meticulously designed by around 15,000 experts and managed by over 500 acclaimed executives across 35 exclusive projects in and around Mumbai.
The company's strong reputation in residential, commercial and gated community developments has been built brick-by-brick on the support of its demonstrated commitment to creating superior developments in market segments and honouring its promise to stakeholders.
Through its latest collaboration, one can expect interesting outcomes in the next few years and the upcoming decade as the project gets completed.