JP Morgan occupies 1.15mn square feet of Nirlon office space to consolidate offshore operations
US financial services giant JP Morgan has signed an agreement with Nirlon to take up 1.15 million square feet office space at Nirlon Knowledge Park at Goregaon in Mumbai Property that has been taken under a long-term license and license agreement is expected to be ready by the second quarter of 2021.
Nirlon, which originally had manufacturing facilities in Goregaon, has repositioned itself as a commercial office space provider. NKP has a site area of 23 acres and is located on Mumbai’s Western Express Highway in Goregaon and houses some of the top global and Indian corporations with approximately 1.8 million square feet of IT/ITES office space already licensed. JP Morgan plans to consolidate its global service centers that are currently distributed in several properties in Mindspace Malad .
“Mumbai is a critical hub for JP Morgan. Moving to Nirlon Knowledge Park helps us consolidate most of our offices in Mumbai into one location and also further demonstrates our long-term commitment to ensuring a world-class working environment for our employees, ”said Kalpana Morparia, chairman, South and Southeast Asia, JP Morgan
“This development further consolidates Nirlon’s position as a leading owner and operator of a world-class business park in Mumbai,” Rahul Sagar, CEO and Executive Director, Nirlon. One of the highlights of the location is the presence of a station outsider the park on metro line 7 (Andheri East to Dahisar East)
Currently, NKP comprises approximately 1.8 million square feet of collectible area and 3 million square feet of built area. Once the current development phase is completed, it will have approximately 3 million square feet of cargo area and 5 million square feet of built area.