Mitsui OSK Lines’ Daibiru Corporation enters Indian real estate sector with $123.5 million investment in Atrium project in Delhi

Japanese shipping company Mitsui OSK Lines, a Ltd group company, Daibiru Corporation, has entered the Indian real estate market by investing $123.5 million to join the Atrium Place Project, an office building project near Delhi. This will be in partnership with Hines, a global real estate investment, development, management and operations company. This will be implemented through Daibiru Hines Trust, which has been set up in Gujarat International Finance Tec-City (GIFT City).

As part of its expansion plan in India, Daibiru is actively exploring more investment opportunities in India, including cities such as Mumbai and Bengaluru, in addition to Delhi/Gurugram. Daibiru will also continue to actively invest abroad, leveraging the global network of Mitsui OSK Lines, Ltd., its 100 percent shareholder, according to a company statement.

The project, Daibiru’s first project in India, involves the construction of four A+ grade office buildings with a leasable area of ​​approximately 3 million square feet and parking on an 11.76-acre plot in the Gurugram Central Business District near Delhi. According to the announcement by the shipping major, construction is already underway and its completion is scheduled for 2025.

As part of the “BLUE ACTION 2035” management plan launched in March 2023, MOL Group is working to diversify its business portfolio by increasing the share of non-freight forwarding activities, which are characterized by stable revenues, which balances the volatile shipping market. The Group is also guided by a regional strategy, which is key to driving foreign investments, including the development of operations in emerging countries with promising economic growth prospects, based on its overseas network. India, with its promising economic growth prospects, is a key pillar of MOL Group’s strategy. This investment follows other recent major investments, such as the establishment of a fast-growing shipping business through MOL India.

Daibiru has over 100 years of experience in the office building industry in Japan and has been involved in overseas building development projects in Vietnam and Australia. Daibiru and MOL’s regional organizations that are expanding their operations around the world will continue to cooperate and actively engage in real estate activities abroad.

As per the release, the investment leverages a new investment platform created by the Government of India through GIFT City, which offers regulatory, tax and other benefits.