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, Ltd, Daibiru Corporation, has entered the Indian real estate market by investing $123.5 million in Atrium Place Project, an office development project near Delhi. This will be done in partnership with Hines, a global real estate investment, development, management and operations firm. This will be done through Daibiru Hines Trust, which has been incorporated in Gujarat International Finance Tec-City (GIFT City).

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

The project, Daibir’s first in India, involves the construction of four Grade A+ office buildings with approximately 3 million square feet of rentable area and a parking lot on an 11.76-acre plot in Gurugram’s Central Business District near Delhi. Construction is already underway and is scheduled for completion in 2025, according to a statement from the shipping major.

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 participated in overseas development projects in Vietnam and Australia. Daibiru and MOL regional organizations, which are developing their business worldwide, will continue to cooperate and actively engage in overseas real estate activities.

The investment leverages a new investment platform created by the Indian government through GIFT City, which offers regulatory, tax and other benefits, the release said.