Overview
Mitsui O.S.K. Lines, Ltd’s subsidiary, Daibiru Corporation has invested $123.5 in the Indian Real Estate Market. This investment has been made for an office building development project, the Atrium Place Project near Delhi.
The collaboration will involve Hines, a global real estate investment, development, management, and operation company. The investment will be made through Daibiru Hines Trust, which was established in Gujarat International Finance Tec-City (GIFT City).
Daibiru is currently pursuing more investment opportunities in India by seeking out additional investment prospects in cities such as Mumbai and Bengaluru, in addition to Delhi/Gurugram. It will also continue to invest overseas by leveraging the global network of Mitsui O.S.K. Lines, Ltd., its sole shareholder, as stated in the official company announcement.
Daibiru’s first project in India consists of the development of four A+ grade office buildings with a leased floor area of about 3 million SQ. FT. and a parking lot on 11.76 acres of land in the Central Business District of Gurugram, near Delhi. The project is under construction and is expected to be delivered by 2025, according to a shipping major release.
In the “BLUE ACTION 2035” management plan launched in March 2023, MOL Group is focused on diversifying its business portfolio by increasing non-shipping weights, and stable revenue businesses that counter-balance the volatile shipping market. The group is also implementing a regional strategy to facilitate foreign investments, including business development in emerging countries with strong economic potential, leveraging its global network.
India, with its promising economic outlook, is a key pillar of the MOL Group’s strategy. This investment follows other recent major investments, like the establishment of a thriving shipping business in MOL India.
Daibiru possesses 100-plus years of expertise in the office building industry in Japan and has participated in overseas building projects in Vietnam and Australia. Daibiru and MOL’s regional organizations, which operate globally, will continue to cooperate and proactively engage in real estate ventures abroad.
The investment takes advantage of the new investment platform by the Indian Government in GIFT City, which offers regulatory, tax, and other benefits, as stated in the announcement.
