Mitsui O.S.K. Lines, Ltd’s Daibiru Corporation Invests $123.5 Million in India’s Real Estate Business

Japanese Shipping Major Mitsui O.S.K. Lines Enters Indian Real Estate Market with $123.5 Million Investment

In a significant move, Japanese shipping major Mitsui O.S.K. Lines, Ltd’s group company, Daibiru Corporation, has made its entry into India’s real estate sector with a substantial investment of $123.5 million. The investment will be directed towards the Atrium Place Project, an office building development project located near Delhi, in collaboration with global real estate company Hines.

The venture, facilitated through the establishment of Daibiru Hines Trust in Gujarat International Finance Tec-City (GIFT City), marks Daibiru’s first foray into the Indian real estate market. The project entails the construction of four A+ grade office buildings spanning approximately 3 million sq ft of leased floor area and a parking lot on 11.76 acres of land in the Central Business District of Gurugram, near Delhi. Construction is already underway, with completion scheduled for 2025.

This strategic move aligns with Mitsui O.S.K. Lines, Ltd’s “BLUE ACTION 2035” management plan, aimed at diversifying its business portfolio by focusing on non-shipping, stable revenue ventures to counterbalance the volatile shipping market. The company is also emphasizing a regional strategy to drive overseas investments, with India being a key focus due to its promising economic growth prospects.

Daibiru, with over 100 years of expertise in the office building business in Japan, has previously been involved in overseas building development projects in countries like Vietnam and Australia. Leveraging the global network of Mitsui O.S.K. Lines, Ltd., Daibiru aims to actively pursue more investment opportunities in India, including in cities like Mumbai and Bengaluru, in addition to Delhi/Gurugram.

The investment also capitalizes on the benefits offered by the Government of India’s investment platform through GIFT City, which provides regulatory, tax, and other advantages for investors. With this strategic move, Mitsui O.S.K. Lines and Daibiru Corporation are set to make a significant impact on India’s real estate landscape, further solidifying their presence in the country’s burgeoning market.