Mitsubishi Estate invests Rs. 560 crore in Bengaluru Housing Project

Mitsubishi Estate (MEC), a global investor, has committed Rs. 560 crore to a residential housing project developed by Birla Estates (BEPL), a subsidiary of Aditya Birla Real Estate, in Southeast Bengaluru.

The investment will be made through a special purpose vehicle (SPV) in a joint venture between BEPL and Mitsubishi Estate. In this partnership, BEPL and MJR Investment (an affiliate of MEC) will hold a 51:49 stake in the SPV.

The SPV will oversee the development of a premium residential project covering 4 million square feet of built-up area in the growing Southeast region of Bengaluru.

The project aims to meet the increasing demand for high-quality residential spaces in the area.

K. T. Jithendran, MD & CEO of Birla Estates, emphasized that the partnership would combine MEC’s global expertise with their deep understanding of the local market to create world-class living spaces. He highlighted their vision of developing modern, sustainable communities that meet the needs of Indian homebuyers, aiming to raise standards in the country’s residential real estate sector.

Atsushi Nakajima, President and CEO of MEC, expressed excitement about this being their first investment in India’s residential sector. He shared his enthusiasm about partnering with Birla Estates, a respected group in India, to expand MEC's presence in the country. Nakajima added that the collaboration would set new benchmarks for excellence in India’s residential real estate market.