The real estate arm of Japan’s Mitsubishi Corporation, DRI India Company Limited has entered into a definitive agreement to invest around Rs 180 crores ($25.5m) in Bengaluru-based Shriram Properties’ ongoing residential project in Chennai named Shriram Park 63, as reported by Mint and Business Standard. This marks Mitsubishi’s first real estate investment in the country with the Japanese conglomerate picking up nearly 70% stake in the residential project. The project is under development at GST Road in Chennai, with more than 1,450 residential units and approximately 2 million square feet of saleable area.

Trilegal advised Mitsubishi Corporation in the investment and was led by partner, Charandeep Kaur, counsel Moksha Bhat, senior associate Harshit Anand, and associates Shringarika Priyadarshini, Dhruv Malhotra and Yashasvi Sarkhel.

The J Sagar Associates (JSA) team acted as the legal advisors to Shriprop Structures in the deal and comprised of partners Gerald Manoharan and Mary Julie John, and associate Soorya Pradeep.

2018-09-06