Published On:June 22 2024
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Daibiru Partners with Hines to Launch Gift City Fund, Invests Rs 1,000 Crore in Gurgaon Building

Daibiru Corporation, a subsidiary of the Japanese conglomerate Mitsui O.S.K. Lines, has made a significant investment of Rs 1,000 crore in an under-construction office complex in Gurgaon. This complex is being developed by DLF in partnership with the global investment and development firm Hines, as reported by sources familiar with the deal.

Hines, holding a 33% stake in the joint venture with DLF, facilitated the exit of the Abu Dhabi Investment Authority (ADIA) by introducing Daibiru Corporation as a new investor.

The investment marks Daibiru's entry into India's real estate market, signaling confidence in the commercial property sector despite ongoing challenges. The office complex, anticipated to enhance Gurgaon's commercial landscape upon completion, underscores the strategic collaboration between international investors and local developers in meeting the region's growing demand for premium office spaces.

Details regarding the specific terms of the investment and the projected completion timeline of the Gurgaon office complex were not disclosed at the time of reporting.

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