Lehman real estate arm to invest Rs740cr in Mumbai

The initial phase entails development of 1 mn sq ft of office space out of the total developable area of nearly 18 mn sq ft. Lehman Brothers Real Estate Partners and the Western Expressway JV will each contribute 50 per cent of the construction cost.

Unitech and Lehman Brothers intend to expand their partnership in the future by considering future investment in subsequent phases of this master project as well as in additional projects in Unitech's Mumbai and national portfolios.