Aditya Birla Real Estate’s subsidiary, Birla Estates (BEPL), has entered a joint venture with Japan-based Mitsubishi Estate Co. (MEC) to develop a premium residential project in Southeast Bengaluru.

The partnership involves an investment of Rs 5.6 billion through a special purpose vehicle (SPV), with BEPL holding a 51% economic interest and MEC’s affiliate, MJR Investment (MIPL), holding 49%.

The project, spanning 4 million square feet of built-up area, will be strategically located in Bengaluru’s rapidly growing Southeast corridor.

The collaboration marks a significant step in expanding high-quality residential developments in the city. (Business Standard)