Mahindra Lifespaces Ties Up with Mitsui Fudosan for JV

Mahindra Lifespace Developers Limited (MLDL) has created a long-term joint venture with Japan’s largest real estate developer, Mitsui Fudosan Group, to create a strategic partnership that will see MLDL develop premium residential projects throughout India.

The first project created by this partnership is Mahindra Blossom – A high-rise residential development currently being built in Bengaluru with a gross development value (GDV) estimated at Rs 1,900 crores.

Key Highlights

• Mahindra Lifespaces forms long-term JV with Mitsui Fudosan
• First project Mahindra Blossom in Bengaluru with Rs 1,900 crore GDV
• Marks Mitsui Fudosan’s entry into India’s residential housing market

Mahindra Blossom is located adjacent to the Hopefarm Channasandra Metro Station on Namma Metro’s Purple Line in Whitefield, one of Bengaluru’s largest IT and employment corridors, and will consist of approximately 730 homes. MLDL has stated Mahindra Blossom will be the fourth net-zero waste residential development within Bengaluru.

Amit Kumar Sinha, Managing Director and CEO of MLDL – believes this partnership represents a large step forward for them and that “Mitsui Fudosan’s global knowledge and experience in design, sustainable infrastructure and customer experience will really add to the overall quality of Mahindra’s premium residential development offerings.”

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This development also represents Mitsui Fudosan Group’s first foray into India’s residential market as they entered India for the first time in 2020 via a US$1 billion partnership with RMZ for the development of commercial office buildings within Bengaluru.

Daijiro Eguchi, Managing Director of Mitsui Fudosan, Asia, stated that “India’s population is growing rapidly and as an emerging economy, will provide wide-ranging investment opportunities over the next 10 to 15 years for the good companies. Our two organizations understand this growth potential well and look forward to working together through further partnerships.”