Realtor DRA inks pact with Philippines' Balajadia Family office to invest $100 mn
In a statement, DRA Group said it has entered into a strategic cross-border partnership with Balajadia Family office, global investors and entrepreneurs from the Philippines.
"The collaboration, formalised through a Memorandum of Understanding (MoU), will see the joint development of 1 million square feet of Grade-A commercial and retail space in India under Phase 1, with an estimated investment value of $100 million," the statement said.
The MoU was signed at the Philippines-India Business Forum in Bengaluru.
This equal joint venture will be executed through a special purpose vehicle (SPV) platform.
"The collaboration allows us to combine local expertise with global capital to drive sustainable real estate growth," Ranjeeth Rathod, Managing Director of DRA, said.
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