Daibiru hits Indian real estate & injects $123.5 million in Delhi's Atrium project

Mitsui O.S.K. Lines, Ltd's subsidiary, Daibiru Corporation, has entered the Indian real estate sector by investing $123.5 million in the Atrium Place Project, an office building development project near Delhi.

The collaboration will involve Hines, a renowned global real estate investment, development, management, and operation firm. The investment will be made through Daibiru Hines Trust, which was founded in Gujarat International Finance Tec-City (GIFT City). 

Daibiru is currently focusing on expanding its presence in India by seeking out additional investment prospects in cities such as Mumbai and Bengaluru, apart from Delhi/Gurugram. The company intends to further its investments internationally by utilizing the extensive global network of Mitsui O.S.K. Lines, Ltd., its sole shareholder, as stated in the official company announcement.  

Daibiru's inaugural project in India consists of the development of four A+ grade office buildings spanning approximately 3 million sq ft of leased floor area, along with a parking lot, on 11.76 acres of land in Gurugram's Central Business District, near Delhi. The construction is currently in progress, with an expected completion date in 2025, as per a statement from the prominent shipping company.

In the "BLUE ACTION 2035" management plan introduced in March 2023, MOL Group is focused on expanding its business portfolio by increasing non-shipping revenue ventures to offset the unpredictable shipping market. The group is also implementing a regional approach to facilitate foreign investments, including expanding operations in emerging markets with strong economic potential, leveraging its global network. India, with its promising economic outlook, plays a crucial role in MOL Group's strategic vision. This initiative complements previous significant investments, like the establishment of a thriving shipping business in MOL India.

Daibiru has over a century of experience in the office building industry in Japan, and has been involved in international building projects in Vietnam and Australia. Daibiru and MOL's regional divisions, which operate globally, will maintain collaboration and actively participate in real estate ventures abroad.

The investment leverages the new investment platform established by the Indian Government in GIFT City, providing regulatory, tax, and other advantages, as stated in the announcement.