NEW DELHI: Viacom18, the broadcasting unit of Mukesh Ambani, is poised to enter right into a lease settlement with Nucleus Office Parks, owned by Blackstone, for its new headquarters in Mumbai, spanning an expansive 400,000 sq. toes.
Reuters reported this growth after affirmation from six sources.
Viacom18, recognized for working TV channels and the digital streaming platform JioCinema, competes with giants like Walt Disney within the Indian market. The forthcoming headquarters will embody roughly eight flooring throughout the “One International Center” complicated, strategically situated in Mumbai’s bustling enterprise district of Lower Parel.
According to one supply, this deal is taken into account a prestigious one when it comes to area allocation. In Mumbai, the place rental prices are notoriously excessive, solely a handful of such substantial leasing agreements are executed yearly. It is estimated that Viacom18 pays a month-to-month lease of round 60 million Indian rupees ($722,178), the Reuters report mentioned.
Reuters’ requests for feedback from Viacom18 went unanswered, whereas Blackstone declined to present a press release.
Mukesh Ambani, the wealthiest particular person in Asia, has been quickly increasing his media and leisure empire. He oversees tv channels comparable to MTV, Nickelodeon, and Comedy Central in India. Furthermore, his streaming platform competes with trade giants like Netflix and Disney+ Hotstar.
Viacom18’s shareholder roster consists of Ambani’s Reliance, in addition to Paramount Global and Bodhi Tree, a three way partnership between James Murdoch and former high-ranking Disney govt Uday Shankar.
According to two insiders acquainted with the workplace relocation plans, Viacom18 is endeavor this transfer to consolidate all its enterprise models, encompassing areas comparable to taxation, finance, sports activities, and digital operations, below one roof.
The relocation is predicted to be accomplished by December, as per these sources.
In a separate growth, Blackstone is within the closing phases of planning an preliminary public providing for its actual property funding belief in India, which can embody property from Nucleus Office Parks. Indian media experiences from June highlighted this transfer. Blackstone has expressed confidence within the Indian market’s efficiency, managing property valued at $50 billion within the nation, spanning non-public fairness and actual property. In the previous yr alone, it has generated over a billion {dollars} in actual property share gross sales.
Reuters reported this growth after affirmation from six sources.
Viacom18, recognized for working TV channels and the digital streaming platform JioCinema, competes with giants like Walt Disney within the Indian market. The forthcoming headquarters will embody roughly eight flooring throughout the “One International Center” complicated, strategically situated in Mumbai’s bustling enterprise district of Lower Parel.
According to one supply, this deal is taken into account a prestigious one when it comes to area allocation. In Mumbai, the place rental prices are notoriously excessive, solely a handful of such substantial leasing agreements are executed yearly. It is estimated that Viacom18 pays a month-to-month lease of round 60 million Indian rupees ($722,178), the Reuters report mentioned.
Reuters’ requests for feedback from Viacom18 went unanswered, whereas Blackstone declined to present a press release.
Mukesh Ambani, the wealthiest particular person in Asia, has been quickly increasing his media and leisure empire. He oversees tv channels comparable to MTV, Nickelodeon, and Comedy Central in India. Furthermore, his streaming platform competes with trade giants like Netflix and Disney+ Hotstar.
Viacom18’s shareholder roster consists of Ambani’s Reliance, in addition to Paramount Global and Bodhi Tree, a three way partnership between James Murdoch and former high-ranking Disney govt Uday Shankar.
According to two insiders acquainted with the workplace relocation plans, Viacom18 is endeavor this transfer to consolidate all its enterprise models, encompassing areas comparable to taxation, finance, sports activities, and digital operations, below one roof.
The relocation is predicted to be accomplished by December, as per these sources.
In a separate growth, Blackstone is within the closing phases of planning an preliminary public providing for its actual property funding belief in India, which can embody property from Nucleus Office Parks. Indian media experiences from June highlighted this transfer. Blackstone has expressed confidence within the Indian market’s efficiency, managing property valued at $50 billion within the nation, spanning non-public fairness and actual property. In the previous yr alone, it has generated over a billion {dollars} in actual property share gross sales.
