Bandra-Kurla Complex (BKC): A Global Brands Hub, the ultimate destination 2023
Bandra-Kurla Complex (BKC), located in the heart of Mumbai, India, has evolved into a bustling hub for top global brands seeking a strategic presence in one of the world’s fastest-growing economies.
Over the years, BKC has transformed from a marshy land to a thriving commercial and financial center, attracting multinational corporations and luxury brands alike. In this article, we will explore why BKC has become a favored destination for top global brands and the unique advantages it offers.
One of the key factors contributing to BKC’s appeal is its strategic location. Situated in the geographical center of Mumbai, it enjoys excellent connectivity to the city’s major business districts, airports, and transportation hubs.
The Bandra-Worli Sea Link provides a smooth link to South Mumbai, while the Eastern Express Highway connects it to the eastern suburbs. Additionally, the upcoming Mumbai Metro Line 3 and the nearby Chhatrapati Shivaji International Airport ensure ease of accessibility for businesses and visitors.
BKC boasts world-class business infrastructure that caters to the needs of global brands. The area is home to modern office complexes, state-of-the-art IT parks, and well-designed commercial spaces.
Top-notch amenities such as high-speed internet connectivity, conference facilities, and ample parking make it an ideal destination for businesses of all sizes. The presence of renowned business hotels and fine-dining restaurants also adds to its charm, making it convenient for visiting executives and clients.
India’s regulatory environment can be complex, but BKC offers a smoother path for businesses through various incentives and support mechanisms. The complex falls under the jurisdiction of the Mumbai Metropolitan Region Development Authority (MMRDA), which provides streamlined approvals and assistance for setting up businesses. Additionally, the Special Economic Zone (SEZ) status granted to certain areas within BKC offers tax benefits and other incentives to eligible companies, further enhancing its appeal to global brands.
Global brands often require seamless connectivity to their international offices and markets. BKC meets this demand with its robust telecommunications infrastructure and global connectivity options.
High-speed internet, fiber-optic networks, and access to international undersea cables ensure that businesses can maintain efficient communication with their global counterparts. This connectivity is crucial for companies engaged in industries such as information technology, finance, and international trade.
Access to a skilled and diverse talent pool is essential for any global brand’s success. BKC benefits from its proximity to some of Mumbai’s finest educational institutions, including the Indian Institute of Technology Bombay (IIT-B) and the National Institute of Fashion Technology (NIFT).
This proximity not only provides access to fresh graduates but also allows companies to tap into a vast pool of experienced professionals from various fields.
Apart from its business appeal, BKC also offers an array of luxury and lifestyle options for employees and visitors. High-end shopping destinations, luxury hotels, and fine-dining restaurants have sprouted in the area, catering to the discerning tastes of the city’s elite and international clientele.
This blend of business and leisure amenities makes BKC an attractive destination for global brands that value work-life balance and employee satisfaction.
Bandra Kurla Complex (BKC) in Mumbai, India, has evolved into a significant hub for global brands, reflecting its growing importance as a commercial and business epicenter.
This upscale district has attracted major international players, such as Apple, which chose BKC for its first retail store in India, marking a significant milestone for the complex.
Global firms like Bain & Company, Boston Consulting Group (BCG), and Amazon have established a significant presence in BKC by leasing large spaces, emphasizing the district’s appeal to international companies.
The BKC area is not only a business district but also a residential area, commanding some of the highest property rates in the country.
The Mumbai Metropolitan Region Development Authority (MMRDA) has identified BKC as the first of a series of “growth centres” aimed at decentralizing the concentration of offices from other parts of the city. In addition to corporate offices, BKC has become a lifestyle and cultural destination.
Jio World Drive, located within the complex, spans 17.5 acres and includes 72 prominent international and Indian brands, 27 dining outlets with global cuisines, and Mumbai’s first rooftop drive-in theatre, positioning it as a vibrant urban hangout.
But Apple is only one of several well-known brands that have chosen BKC—best known as an office district—for its retail requirements.
Thanks to two upscale malls, Jio World Drive and Jio World Plaza, some of the most prestigious and luxurious brands in the world, including Chanel, Gucci, Cartier, Dior, Versace, Tiffany, Burberry, Balenciaga, Diesel, Coach, and Emporio Armani, are present in BKC.
The Reliance company, which owns the two malls, is reportedly building additional shopping complexes in BKC, according to sources.
BKC has travelled a considerable way. The region along the Mithi river between Bandra and Kurla was a barren wetland just thirty years ago. Spread on 370 hectares, it is now one of Mumbai’s premier business areas and has developed into much more than just a hub for posh office skyscrapers and other structures.
Today, it is a bustling hub for dining, drinking, and entertainment, complete with shopping centres, dining establishments, multiplexes, upscale residential buildings, a conference and cultural centre, five-star hotels, hospitals, and schools.
Top office transactions are still being drawn to BKC; real estate analysts estimate that leasing rent per square foot is between Rs 300 and 500 in this neighbourhood, which is more than the roughly Rs 200 to 250 per sq. ft that areas in Mumbai like Worli and Lower Parel command.
Real estate consultancy CBRE South Asia stated in its most recent “India Market Monitor Q3 2023” that retail leasing activity had seen a 46% YoY growth in the January-September period of this year, led by the top 8 cities, including Mumbai, which was seeing hectic leasing activity in places like BKC. Retail and F&B brands have invariably followed this crowd.
For example, two apartments in the Jio World Plaza in BKC have been rented by Christian Dior and Louis Vuitton for an initial monthly fee of Rs 21.56 lakh each. Executives with knowledge of the situation stated that most other major businesses at Jio World Plaza, an exclusive luxury shopping area, have identical leasing agreements, with further fee increases anticipated.
Apple, on the other hand, pays a rent of Rs 42 lakh per month for its 22,000 square feet of space at Jio World Drive, with a 15% escalation clause every three years. According to real estate portal Propstack, the agreement also contains a revenue sharing component, under which Apple will have to pay 2.5% of its income after 36 months at a rate of 2% of its revenue.
Destination BKC has established itself as a prime choice for top global brands seeking a strategic foothold in India’s thriving market.
Its strategic location, world-class infrastructure, regulatory support, global connectivity, talent pool, and luxury lifestyle options make it an ideal destination for businesses looking to expand their footprint in the subcontinent.
As India continues to grow as a global economic powerhouse, BKC will undoubtedly play a pivotal role in shaping the future of international business in the region, making it a destination of choice for top global brands.
Over the past decade, BKC has steadily replaced Nariman Point as Mumbai’s prime commercial real estate destination. It has been recognized in the top 50 rankings for global prime office properties, indicating its prestigious status in the international market.
This combination of commercial clout, luxury retail, and cultural amenities makes BKC an attractive destination for top global brands looking for a foothold in the Indian market.
