Mumbai's Express Towers sold for Whopping 870 crore

BANGALORE: American private equity company, Blackstone and Pune based Panchshil Realty signed the deal to buy a majority stake in Mumbai’s iconic Express Towers, owned by Viveck Goenka of The Indian Express group. It is one of South Asia’s tallest storey towers in Mumbai’s Nariman Point, facing the Arabian Sea, for whopping 870 crore.

Joseph Allen Stein, an American Architect, designed the building. Built over four decades ago by late media baron Ramnath Goenka, it is co-owned by his grandson Viveck Goenka, chairman of the Express Group and ICICI Venture. Express Towers has defined the best in the finest corporate amenities. The building is unique for the way it connects to the ground. Upon completion in 1972, the 105 metres tall building managed to retain the tallest building title in South Asia for about two years, the tower block rises from a terrace garden above a three floor high podium. The structure underwent a makeover, which saw Express Towers bring together the beauty of traditional architecture and the convenience of cutting-edge services to fulfill the need for an excellent business environment and offers perfect tenant facilities.

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