Latest news with #DRA
Business Wire
6 days ago
- Climate
- Business Wire
$15K Grant from FHLB Dallas and Gulf Coast Bank & Trust Will Help New Orleans Resident Weather Future Storms
NEW ORLEANS--(BUSINESS WIRE)--A longtime New Orleans, Louisiana, resident is rebuilding nearly two decades after Hurricane Katrina damaged her home, thanks in part to a $15,000 Disaster Rebuilding Assistance (DRA) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas). The DRA grant was awarded through FHLB Dallas member Gulf Coast Bank & Trust to provide a new storm-resistant roof for Gail Micken. Ms. Micken, a retiree, moved into her home in April 2005. Just a few months later, Hurricane Katrina swept through Louisiana, leaving widespread destruction in its wake. Fortunately, her home, situated on higher ground, was spared from severe flooding. However, the roof sustained significant damage that worsened with time. 'After Katrina and all the smaller storms since, my roof just kept getting worse, and it's a big house, so I had to fix it in pieces,' Ms. Micken said. 'With prices going up and insurance getting harder to afford, this grant was a blessing. It gave me the help I needed to make my home safe again. This program is making a difference for people like me on a fixed income.' Administered through FHLB Dallas member institutions, DRA provides grants for the repair, rehabilitation and reconstruction of owner-occupied housing affected by disaster events in federally declared disaster areas within FHLB Dallas's five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. Ms. Micken's new roof meets FORTIFIED standards by the Insurance Institute for Business & Home Safety (IBHS), designed to withstand hurricanes, high winds, hail and severe thunderstorms. 'We're proud to play a role in helping lifelong New Orleans residents like Ms. Micken repair their homes after a natural disaster,' said Brittainy Fields, CRA officer at Gulf Coast Bank & Trust. 'Through these grants, we're not only preserving housing but also strengthening safety and storm preparedness for the future.' Since 2024, Gulf Coast Bank & Trust has awarded $347,000 in FHLB Dallas DRA grants. 'A FORTIFIED roof is a proactive investment in the quality and longevity of our housing stock,' said Greg Hettrick, senior vice president and Director of Community Investment at FHLB Dallas. 'By helping homeowners improve and maintain their properties, we're supporting community stability and giving residents the security and comfort they deserve.' For 2025, FHLB Dallas set aside $4 million for the DRA program. Learn more about DRA. About Gulf Coast Bank & Trust Gulf Coast Bank & Trust Company was founded in 1883, offering several personal and business banking services to the communities in Baton Rouge, New Orleans, surrounding the Southeast Louisiana areas and Florida. Banking services include checking and savings accounts with online and mobile banking options as well as personal loans, home loans, business loans and trust and brokerage services. Its mission is to strengthen its relationship with customers by combining the values of old-fashioned community banking that focus on individualized customer service with innovative, competitive banking products and trust and brokerage services. About the Federal Home Loan Bank of Dallas The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $116.1 billion as of June 30, 2025, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit
Time of India
08-08-2025
- 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
08-08-2025
- 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
08-08-2025
- 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."
Time of India
08-08-2025
- 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.
