Joint Venture29 May 2025, 05:54 pm
Valor Estate Ltd and Prestige Estates Projects Limited Enter Joint Development Agreement for a Commercial Project in Mumbai
AI Summary
Valor Estate Ltd, along with its subsidiaries Esteem Properties Private Limited and Advent Hotels International Private Limited, have entered into a Framework Agreement with Prestige Estates Projects Limited to jointly develop a commercial project in Mumbai. The project, which will be developed on a 21,978.22 sq. mts. plot owned by Esteem, will have a leasable area of approximately 1.50 million sq ft and a Gross Development Value of approximately Rs. 4,500 Crores. Both parties will have a 50% economic interest in the project.
Key Highlights
- Valor Estate Ltd and Prestige Estates Projects Limited have entered into a Framework Agreement to jointly develop a commercial project in Mumbai.
- The project will be developed on a 21,978.22 sq. mts. plot owned by Esteem Properties Private Limited.
- The project will have a leasable area of approximately 1.50 million sq ft and a Gross Development Value of approximately Rs. 4,500 Crores.
- Both Valor Estate Ltd and Prestige Estates Projects Limited will have a 50% economic interest in the project.
- The project is expected to expand Valor Estate's business and help in developing high-quality commercial projects.