Sumitomo leases land in Mumbai for over '2k crore.

Japan's Sumitomo Corporation Group has concluded a long-term lease agreement for a nearly 3-acre land parcel in Mumbai's Bandra-Kurla Complex with Mumbai Metropolitan Region Development Authority (MMRDA) for over ₹2,067 crore. Goisu Realty, a subsidiary of Sumitomo Realty & Development Company, has picked up the land parcel through an 80-year lease agreement. It emerged as the highest bidder for the plot in 2019 but conclusion of the deal has taken more than four years.

ET