Viacom18 to strike deal with Blackstone for new Mumbai HQ

Mukesh Ambani’s broadcasting unit Viacom18 is set to sign a lease deal with Blackstone-owned Nucleus Office Parks for its new headquarters in Mumbai, spread over 400,000 square feet, six sources familiar with the matter said.

Viacom, which runs TV channels and digital streaming platform JioCinema, competes with the likes of Walt Disney in India. Its new headquarters will be spread across roughly eight floors spread across the “One International Center” complex in Mumbai’s business district of Lower Parel.

“It is a marquee deal in terms of area. In Mumbai, rents are so high and every year only three to five such deals happen. This type of relocation is rare,” said the first source, who said the monthly estimated rent paid by Viacom18 will be 60 million Indian rupees ($722,178).