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Tribeca ties up with Logix to build realty project in Noida with investment of Rs 250 cr

Press Trust of India  |  New Delhi 

Realty firm has tied up with to develop a mixed-use project in with an investment of Rs 250 crore.

The project, located adjacent to mall, will have a total developable area of 5 lakh sq ft, including 2 lakh sq ft each for retail and office space. The remaining one lakh sq ft will be serviced apartments.

was the to this collaboration.

"We have partnered with to develop a mixed use project," Kalpesh Mehta, founder and (MD) told

Asked about the investment, Mehta said the owns the land parcel and the construction cost would be around Rs 250 crore.

Tribeca, which brought in India, would rope in financial partners to fund this project, he said.

"We will sell serviced apartments and office space in this project. will be leased," he added.

This partnership would strengthen its development portfolio in Delhi-NCR, Mehta said.

This tie-up is in line with our strategy to collaborate with expert product developers for our marquee land parcels, Logix chief said.

Santosh Kumar, of said, This partnership between and Logix is a perfect match of complimentary skill sets."

Currently, Tribeca is developing five projects with a total value of Rs 6,500 crore across Mumbai, and Kolkata. It is developing two Trump Tower projects in Kolkata and Gurugram.

Last month, Tribeca partnered to form a Rs 500 crore fund for development of mid-income housing projects in and Delhi-

The Logix Group has delivered more than 9 million square feet across residential, commercial and IT or ITES projects.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 11 2019. 16:50 IST