A real estate group has signed a memorandum of understanding (MoU) with a foreign family office to create a special purpose vehicle (SPV) platform.
The 50:50 joint venture will focus on developing one million sq ft of grade-A commercial and retail spaces in Chennai and Bengaluru in the first phase, with an estimated investment of $100 million. Representatives of the partners stated that the collaboration combines local expertise with global capital to drive sustainable real estate growth and aims to explore future cross-border development opportunities.
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