Redeveloping An Icon: Mumbai’s Kamal Amrohi Studio

Mumbai’s iconic Kamal Amrohi Studio, the birthplace of blockbuster Hindi films, is all set to get a corporate makeover under the leadership of Shahid Usman Balwa and other stalwarts of the Indian real estate industry. Also called Kamalistan Studio, it was founded by the late screenwriter and filmmaker Kamal Amrohi back in 1958 and has produced several Bollywood hits including Pakeezah (1972), Razia Sultan (1983) and Mahal (1949).

The six-decade-old studio located in Jogeshwari East is going to be redeveloped as the single largest corporate park in Mumbai. Bengaluru-headquartered real estate firm RMZ Corp has undertaken this grand project in partnership with DB Realty and Avinash Bhosale Infrastructure. Foreseeing future potential, top promoters including Shahid Balwa, Director, DB Realty acquired Kamalistan Studio, along with Mahal Pictures from the late filmmaker Kamal Amrohi’s children more than a decade ago. With this project, DB Realty will be involved in developing a prime office space in the heart of India’s financial capital.

In a short span of time, DB Realty has covered a massive ground, thereby establishing their place as a leading real estate developer in India. The story of their growth is largely rooted in facts and figures while their rich legacy is derived from a widely recognized expertise in commercial, residential and gated community developments. Like all others, this project serves the group’s primary aim to further the mission of creating superior developments in every market segment.

DB Realty’s expanding portfolio consists of over 100 million sq. ft of prime property - carefully crafted by 15,000 experts and managed by over 500 internationally and nationally acclaimed executives. The projects are spread across 35 exclusive areas, serving over 20,000 satisfied customers till date.

Entering into a strong partnership with RMZ Corp (one of the country’s largest office park developers) and Avinash Bhosale Infrastructure, DB Realty is ready to embark on a 7 million sq. ft. project in the face of redeveloping Kamalistan Studio. The entire project is estimated to be valued at $3 billion (roughly Rs 21,000 crore). While RMZ will have 55% economic interest, the remaining 45% will be managed between DB Realty and Bhosale Infrastructure. Signaling towards a positive start, the project has received layout sanctions from the government and is likely to commence by the end of 2019 The state-of-the-art corporate park will house more than 1.25 lakh workstations once it is completed over the next 5-7 years.

This move has received a warm welcome from other industry players as well. In today’s date, Mumbai is seen as a largely under-served office market. Given the sheer scale and size, it is a smart yet lucrative opportunity for the country’s chief office developers to come together and build top quality real estate.