Investment in a New Real Estate Project in Pune, India
Nov. 14, 2022
Marubeni Corporation (hereinafter, “Marubeni”) is pleased to announce its new investment in the real estate Project (hereinafter “Project”), a residential real estate development and sale project being executed in Pune, India, by Kolte-Patil Developers Ltd. (hereinafter, “KPDL”), a developer based out of Maharashtra.
This Project is Marubeni’s second real estate project in India, and the company will invest in the Project by subscribing to a NCD*1 issued by KPDL.
Pune is one of the largest cities in India, with a population of 8 million*2. It has long flourished as a center of education and academia, and has developed as a base for manufacturing industries, including the automobile industry. In recent years, the population has continued to flow into the area due to the concentration of major foreign IT companies and unicorn companies in IT parks, and this has led to the rapid development and urbanization of the residential environment.
Marubeni will bring to the table its considerable experience cultivated from developing real estate in Japan and overseas and will collaborate with KPDL to contribute to a high-quality housing supply that combines Marubeni’s knowledge and experience in Japanese development, with Indian culture and lifestyle.
Lastly, the scope of Marubeni’s activities in India will not be limited to real estate development businesses, but will expand into a number of related development businesses, including social infrastructure maintenance and the new sales channels and services these businesses produce. In this way, Marubeni will work to develop the Indian market and make it a pillar of its overseas real estate business.
*1 NCD: Non-Convertible Debenture
*2 Source: Demographia World Urban Areas: 2022
|Location:||Vishal Nagar, Baner, Pune, Maharashtra, India|
|Area of Land:||Approx. 12,000 ㎡|
|Saleable Area:||Approx. 72,000 ㎡ (34 Floors, 3 Towers, About 330 Units)|
|Schedule:||Commencement: December 2022
Completion: December 2026 (Projected)
|Name:||Kolte-Patil Developers Ltd.|
|Location:||Near Mainland China, Dhole Patil Rd, Pune, Maharashtra, India|
|Business:||Development and Operation of Residential and Commercial Real Estate in Pune, Mumbai
and Bengaluru (Karnataka)