Marubeni Corporation to foray into Indian real estate
It will invest by subscribing to NCDs issued by Atmosphere Realty
Japanese institutional investor Marubeni Corporation will be investing Rs 300 crore in realty developer Wadhwa Group’s nearly one million sq ft residential project ‘Atmosphere’ in Mulund suburb of Mumbai. This is Marubeni’s maiden investment in Indian real estate.
It will be investing in the project by subscribing to non-convertible debentures (NCDs) issued by the company’s project subsidiary, Atmosphere Realty.
The investment will be used for the project’s Phase-II - Atmosphere-O2 being developed by Atmosphere Realty. Phase-I of the project has already been completed and delivered to 650 customers.
The residential project, spread over 4.72 acre on Goregaon-Mulund Link Road, (GMLR) is being developed by the Wadhwa Group in alliance with Man Infra Construction and Chandak Group. The 700 apartment project is expected to be completed by December 2025.