RxP expands life sciences real estate portfolio in Mumbai with $150+mn investment
RxP announces its expansion in Mumbai with the Navi Mumbai Research (NMR) District as part of its continued regional expansion strategy across India
Rx Propellant (RxP), a platform focused on providing real estate solutions, including research and development (R&D) laboratories and associated facilities for the life sciences and associated sectors in India, has announced an initial investment of $75 million in phase 1 of the Navi Mumbai Research (NMR) District, as part of its continued regional expansion strategy across India.
Reportedly, RxP is involved in a number of real estate projects in the design-development stage across Hyderabad, Bangalore and Mumbai with a total planned development of more than 6.5 million square feet.
A company statement informed, “The NMR District represents the first exclusive life sciences development in Mumbai and is spread across 16 acres of land with a total development of 1.5 million square feet. It was formally launched in November of last year with the first phase of 400,000 square feet set to be ready for occupancy by late 2025. To be developed in multiple phases, this project will attract a total investment of over $150 million by RxP.”
It added, “With a planning aim of being the largest exclusive life sciences campus in Mumbai, the project will provide a purpose-built base for housing a broad spectrum of life sciences start-ups, scale-up businesses and well-established enterprises.”
Reportedly, the NMR District will also have a series of customisable laboratory space areas as well as pilot plants that will sit alongside collaborative spaces, office areas, and centres of excellence. There will also be provision of breakout areas, conference rooms and cafeterias to support general staff activities and well-being.
By way of ESG protocols and a continued commitment to environmental stewardship for RxP, the project will also include significant investments for the use of solar power for electricity, rainwater harvesting mechanisms and recycling of wastewater with a zero liquid discharge (ZLD) facility. In addition, the campus will comprise green buildings that are set to achieve both LEED Platinum and WELL compliance certifications, as per the company statement
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