Latest news with #Balajadia
Time of India
4 days ago
- Business
- Time of India
DRA Group, Balajadia family launch $100 million real estate platform
Chennai-based property developer DRA Group has partnered with the Balajadia family of the Philippines for a $100 million (about ₹876 crore) real estate platform, targeting yield-generating office and retail assets across South India. The platform, which will be owned equally by both partners, marks the debut of a Filipino company in India's thriving realty market. It will initially focus on Grade A commercial and retail developments in Chennai and Bengaluru. The first project-a 60,000 sq ft retail centre in Chennai's OMR corridor-is currently underway at an investment of $10 million. Another upcoming project is a 1.6-acre commercial centre in Chennai. The platform has set a medium-term development target of over 1 million sq ft, with assets ranging from core central business district (CBD) plots to growth locations in suburban areas. The portfolio will comprise 70% commercial and 30% retail assets across Chennai and Bengaluru. "The platform allows us to take a programmatic approach to both greenfield and value-add commercial projects, while de-risking through tenant pre-leasing and asset-backed capital deployment over the next three years," said Ranjeeth Rathod, managing director, DRA Group. For DRA Group, known for residential and mixed-use townships, the platform marks a shift into institutional-grade commercial and retail real estate. As part of the platform strategy, DRA plans to acquire 1.5-2 acre land parcels in high-absorption micro-markets having strong infrastructure. Economic Times WhatsApp channel )
Economic Times
4 days ago
- Business
- Economic Times
DRA Group, Balajadia family launch $100 million real estate platform
Tired of too many ads? Remove Ads Chennai-based property developer DRA Group has partnered with the Balajadia family of the Philippines for a $100 million (about ₹876 crore) real estate platform, targeting yield-generating office and retail assets across South platform, which will be owned equally by both partners, marks the debut of a Filipino company in India's thriving realty market. It will initially focus on Grade A commercial and retail developments in Chennai and first project-a 60,000 sq ft retail centre in Chennai's OMR corridor-is currently underway at an investment of $10 million. Another upcoming project is a 1.6-acre commercial centre in platform has set a medium-term development target of over 1 million sq ft, with assets ranging from core central business district (CBD) plots to growth locations in suburban areas. The portfolio will comprise 70% commercial and 30% retail assets across Chennai and Bengaluru."The platform allows us to take a programmatic approach to both greenfield and value-add commercial projects, while de-risking through tenant pre-leasing and asset-backed capital deployment over the next three years," said Ranjeeth Rathod, managing director, DRA DRA Group, known for residential and mixed-use townships, the platform marks a shift into institutional-grade commercial and retail real estate. As part of the platform strategy, DRA plans to acquire 1.5-2 acre land parcels in high-absorption micro-markets having strong infrastructure.
Time of India
5 days ago
- Business
- Time of India
DRA Group, Balajadia family launch $100 million real estate platform focused on South India
Chennai-based developer DRA Group has partnered with the Balajadia family of the Philippines to launch a $100 million(Rs 870 crore) real estate platform, with an eye on yield-generating office and retail assets across South India. The 50:50 equity platform will initially focus on Grade A commercial and retail developments in Chennai and Bengaluru, with the first project—a 60,000 sq ft retail development on Chennai's OMR corridor—already underway at an investment of $10 million. Another upcoming project is a commercial project in Chennai spread over 1.6 acre. It also marks a first-of-its-kind partnership in the Indian real estate space with a Filipino investor group. The platform has set a medium-term development target of over 1 million sq ft, with assets ranging from core CBD plots to suburban growth locations. The portfolio will comprise 70% commercial and 30% retail assets across Chennai and Bangalore. 'The platform allows us to take a programmatic approach to both greenfield and value-add commercial projects, while de-risking through tenant pre-leasing and asset-backed capital deployment over the next 3 years,' Ranjeeth Rathod MD of DRA Group.. For DRA Group—traditionally known for its residential and mixed-use townships—the platform marks a shift into institutional-grade commercial and retail real estate. As part of the platform strategy, DRA plans to acquire 1.5–2 acre land parcels in high-absorption micro-markets with strong infrastructure. 'This is not a one-off investment—it is a long-term platform play aimed at building institutional quality assets with strong yield visibility,' he said. The Balajadia family, headquartered in the Philippines, is among Southeast Asia's most active private investors with interests across pharma, healthcare, and real estate. Known for building operating platforms across emerging markets, the family's Indian foray is part of a larger strategy to deploy patient capital into asset-backed, cash-yielding platforms. 'This partnership goes beyond brick and mortar – it's about building long-term value across borders by blending market insight, cultural understanding, and capital strength. We look forward to not only creating landmark developments in India but also welcoming future collaborations that bring Indian expertise to the Philippines in time,' said Balajadia. According to experts, India's entry marks a broader trend of Southeast Asian capital turning to Indian real estate as yields compress in developed markets. In their home market, the family is associated with Lloyd Laboratories, a pharmaceutical company that operates as a contract toll manufacturer for many other pharmaceutical traders and companies in the country This partnership signals their confidence in India's institutional real estate story, and also provides DRA with deep-pocketed, globally connected capital to scale across urban centres '.We are looking to create long-term rental yield assets to be monetised through a REIT listing or strategic asset exit in the next 5-7 years with a rental income of over Rs 250 crore,' said Rathod. . Separately, DRA Group plans to have projects with gross development value of over Rs 6500 by March 2027. The firm has 3.9 Mn sqft projects under development with an additional 1.9 Mn sqft of land tied up over the last few quarters. The portfolio mix is expected to lean 75% towards residential and 25% towards commercial. The company is also exploring new city entries, with Pune on the radar for the next phase of expansion.
