DRA Group, the Chennai-based real estate developer and Balajadia Family office – global investors and entrepreneurs from the Philippines, have signed a Memorandum of Understanding (MoU) for joint development of 1 million sq ft of Grade-A commercial and retail space in India under Phase 1, with an estimated investment value of $100 million.

The MoU was signed at the Philippines-India Business Forum in Bengaluru by Ranjeeth Rathod, Managing Director – DRA Group and Dr. Lloyd Balajadia in the presence of Ferdinand Romualdez Marcos Jr., President of the Republic of the Philippines and other high-level delegates from the Philippines, says a release.

The 50:50 joint venture will be executed under a SPV Platform. The initial development will focus on high-growth urban centres, beginning with Chennai and Bengaluru, according to the release .

Published on August 8, 2025