Mahindra Lifespace & Mitsui Fudosan JV in Bengaluru

New Delhi, Feb 9 (PTI) Realty firm Mahindra Lifespace Developers Ltd on Monday said it has formed a joint venture with Japanese firm Mitsui Fudosan Group to build a premium housing project in Bengaluru.

In a regulatory filing, the company announced a joint venture with Mitsui FudosanGroup for the development of 'Mahindra Blossom', a residential project located in Whitefield, Bengaluru.

This marks the first project under this strategic partnership. The project will have around 730 homes.

Mahindra Lifespace did not disclose the total cost as well as estimated revenue for this upcoming project.


Amit Kumar Sinha, MD and CEO of Mahindra Lifespace, said, "As Japan's largest residential developer, Mitsui Fudosan sets global benchmarks in design, sustainability, and customer experience, and we look forward to integrating their best practices into the first joint project, Mahindra Blossom."

He said the company is working towards expanding this partnership.

Daijiro Eguchi, Managing Director, Mitsui Fudosan (Asia) Pte. Ltd., said, "India represents a highly attractive residential market driven by strong economic fundamentals and rapid urbanisation."

Eguchi said the upcoming project marks Mitsui Fudosan Group's entry into India's residential sector.

Mahindra Lifespace's development footprint spans 53.65 million sq ft (saleablearea) of completed, ongoing and forthcoming residential projects across seven Indian cities. It also has over 5000 acres of ongoing and forthcoming projects under development / management at its integrated developments / industrial clusters across four locations.