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Hindustan Times
2 days ago
- Business
- Hindustan Times
Realtor DRA inks pact with Philippines' Balajadia Family office to invest $100 mn
Chennai-based real estate firm DRA Group has signed a pact with Philippines-based Balajadia Family office to jointly develop a commercial project with an estimated investment of $100 million. Chennai-based real estate firm DRA Group has signed a pact with Philippines-based Balajadia Family office to jointly develop a commercial project. (Photo for representational purposes only)(Pixabay) 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.
Time of India
3 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
3 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
3 days ago
- Automotive
- Time of India
DRA & Balajadia Family office create $100 million platform to develop commercial spaces
NEW DELHI: Chennai-based DRA Group has entered into a memorandum of understanding (MoU) with Philippines-based Balajadia Family office to create a special purpose vehicle (SPV) platform. This 50:50 joint venture will see the development of one million sq ft of grade-A commercial and retail spaces in Chennai and Bengaluru under phase-I, with an estimated investment value of $100 million. Ranjeeth Rathod , managing director, DRA said, "This collaboration allows us to combine local expertise with global capital to drive sustainable real estate growth." Lloyd Balajadia said, "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."
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Business Standard
3 days ago
- Business
- Business Standard
DRA inks pact with Philippines' Balajadia Family office to invest $100 mn
Chennai-based real estate firm DRA Group has signed a pact with Philippines-based Balajadia Family office to jointly develop a commercial project with an estimated investment of $100 million. 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.
