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Japan based Marubeni Corporation has entered into a joint development agreement with Pune-based Kolte Patil Developers Ltd, according to a recent BSE filling. The project will be located in Pimple Nilakh, Pune and is said to have the development potential of over eight lac square feet. As per the agreement Marubeni Corporation will invest a sum of 200 crore rupees into the project, via a single tranche, providing KPDL will the requisite liquidity needed. Marubeni Corporation will be entitled to 2.85 lac square feet of saleable area within the project.
Japan based Marubeni Corporation has entered into a joint development agreement with Pune-based Kolte Patil Developers Ltd, according to a recent BSE filling. The project will be located in Pimple Nilakh, Pune and is said to have the development potential of over eight lac square feet. As per the agreement Marubeni Corporation will invest a sum of 200 crore rupees into the project, via a single tranche, providing KPDL will the requisite liquidity needed. Marubeni Corporation will be entitled to 2.85 lac square feet of saleable area within the project.
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In his interactions with the press, Yash Patil, the joint managing director of KPDL shared his views on the recent occurrences. He strongly believes such collaborations will allow them to rapidly build their portfolio and cement a name for themselves in the premium luxury segment. For the company, investment opportunities such as this, has allowed them to fast track their business development goals and achieve greater heights.
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