A development firm has partnered with multiple domestic and international real estate groups to build a 10-acre mixed-use project on the site of a former industrial mill in Delhi’s Kamla Nagar. The collaborators will jointly develop around 30 lakh square feet of residential and retail space on this long-held land parcel.

Details regarding the total investment and revenue potential of the project have not been disclosed.

According to the chairperson of the land-owning firm, the site carries a legacy spanning more than a century and needed the right partners to unlock its full potential. The collaborating entities bring a blend of global expertise and strong local market understanding, forming an ideal partnership aimed at delivering a world-class development that respects the heritage of the city.

A senior representative from one of the international development partners highlighted that this collaboration marks the company’s entry into the residential market of the national capital. The project is also expected to help address the significant shortage of high-quality retail space in the area.

The parent group of the land-owning firm operates across several sectors including fertilizers, engineering, infrastructure, real estate, and consumer products, and has multiple large manufacturing facilities across the country. It has executed numerous projects in several Indian cities.

Another participating development firm, headquartered in the region, has delivered more than 12,000 homes across multiple cities including parts of the Delhi-NCR region, Dehradun, and Goa.

https://www.livehomes.in/news_letter