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Godrej-Hero Cycles join hands to develop commercial project in Gurugram

The JV would develop, lease, and manage around 1 million square feet of prime office and retail space on the 4-acre property

Press Trust of India  |  New Delhi 

Hero cycles
Hero cycles

Monday announced a partnership with to develop a commercial project comprising around 1 million sq ft of office and retail space on 4 acre land owned by the latter in

"Godrej Fund Management, the real estate private equity arm of the Godrej Group, and have entered into a joint venture (JV) with for their Golf Course Road property in Gurugram," the Mumbai-based developer said in a statement.

The JV would develop, lease, and manage around 1 million square feet of prime office and retail space on the 4-acre property, it added.

This will be Godrej Properties' 14th project in Delhi-NCR, which is one of the four key markets that the company is focusing on.

"The combination of Godrej Fund Management and combines superior investment management capabilities with best-in-class development capabilities," Godrej Properties Executive Chairman Pirojsha Godrej said.

"We will do our best to ensure that it becomes a landmark development in NCR," he added.

The company said the project is situated in one of the most desirable commercial locations in the country. The site is in close proximity to a multitude of established and leading commercial, retail, and residential destinations.

Pirojsha Godrej is also the chairman of Godrej Fund Management, which manages over $1 billion of capital across four funds in residential and commercial real estate.

In September, Godrej Properties announced a tie-up with Shipra group to develop a luxury housing project in Noida.

First Published: Mon, November 26 2018. 13:40 IST
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