INDIA Daibiru’s First Foray into India
Our first office development project in India
Overview of the Daibiru’s first foray into India
Under 2035 Build Next, our medium- to long-term management plan, which started in fiscal 2023, we highlighted investment in new target countries (growth areas) as a priority initiative for our overseas business strategy, and we planned to enter the Indian market, where economic growth and population increase are expected. We participated in the Atrium Palace Project, an office building development in the central business district (CBD) of Gurugram, near Delhi, the capital, acquiring a partial stake through an investment in a fund established by Hines, a global real estate investment, development, management, and operating company.
Timeline to completion of construction
-
- June 2024
- Participation in the Gurugram CBD Office Building Development Project is announced.
-
- December 2025
- Completion of construction (scheduled)
Details
Seizing the opportunity to expand into India
In pursuing our international business strategy, we have identified India, a country experiencing remarkable economic growth, as a promising new investment destination, following Vietnam, Australia, and the United States.
Leveraging the business foundation of the MOL Group, which has operated in India for many years, we have entered our first project in the country—the Atrium Place Project, an office building development in the central business district of Gurugram, near Delhi.
A large-scale development poised to become a new landmark
This project involves the construction of four A+ grade office towers and one parking structure on approximately 47,600 m² of land, with a total rentable floor area of about 285,000 m².
The design is being handled by the globally renowned U.S. architectural firm Pelli Clarke & Partners. With the buildings’ impressive glass façades providing excellent visibility from the outside, the development is expected to become a new landmark in the city of Gurugram. Construction is progressing according to schedule, with the project expected to be completed in 2025.
VIEWPOINT
Aiming to expand our business through alliances with leading partners
Recently, our company acquired a partial stake in this project through an investment in a fund established by Hines, a comprehensive real estate developer operating in 30 countries worldwide. Hines has developed numerous highly regarded properties in the Gurugram market and attracted top-tier global tenants through its high-quality building development and management services. Following our partnership with Hines, we are exploring opportunities to collaborate with other experienced partners who have a deep understanding of the local market, with the goal of expanding our presence in key Indian cities.
Overseas Business Section, Overseas Business Department
H.N. Has been in their current position since joining the Company in February 2023 as a mid-career hire
INFORMATION
- Location:
- Phase V, Udyog Vihar, Sector 19, Gurugram, Haryana
- Site area:
- Approx. 47,600 m² (approx. 14,399 tsubo)
- Net leasable area:
- Approx. 285,000 m² (approx. 86,212 tsubo)
- Design:
- Pelli Clarke & Partners
- Completion:
- Dec. 2025 (scheduled)
