Tata Realty and CPP Investment inks Joint Venture for Commercial Real Estate Venture

Tata Realty and CPP Investment inks Joint Venture for Commercial Real Estate Venture

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2 year(s) ago

Tata Realty and Infrastructure Limited (TRIL) and Canada Pension Plan Investment Board (CPP Investments) have established a new joint venture to develop and manage commercial office spaces across India.

  • Venture Highlights:

    • Focus: Stabilized and development assets
    • Target Asset Value: Over INR 50 billion (C$800 million)
    • Seed Assets:
      • Intellion Park Chennai (LEED Platinum-rated, 4.6 million sq ft)
      • Intellion Edge Gurgaon (National Capital Region, 1.8 million sq ft)
    • Future Developments: Grade A commercial spaces in major Indian cities (Mumbai, Delhi, Pune, Bengaluru, Hyderabad, Chennai) with an equity allocation of INR 20 billion (C$333 million)
  • Strategic Goals:

    • TRIL: Provide high-quality sustainable office spaces and expand business opportunities.
    • CPP Investments: Enter the fast-growing Indian commercial real estate sector and deliver strong returns for its stakeholders.
  • Industry Significance:

    • This joint venture brings together a leading Indian developer (TRIL) with a major global investor (CPP Investments).
    • It reflects the growing interest in India’s commercial real estate market.
  • Management Quotes:

    • Sanjay Dutt, MD & CEO of TRIL, emphasizes their commitment to creating excellent workspaces and their vision for sustainable growth through this partnership.
    • Hari Krishna V, Managing Director and Head of Real Estate India for CPP Investments, highlights the venture’s potential for exploring new opportunities and delivering strong returns.

Overall, this joint venture positions both TRIL and CPP Investments to capitalize on the potential of India’s commercial office space market.

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in

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