The project, located adjacent to Logix City Centre 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.
Asked about the investment, Mehta said the Logix group owns the land parcel and the construction cost would be around Rs 250 crore.
Tribeca, which brought Trump Towers in India, would rope in financial partners to fund this project, he said.
"We will sell serviced apartments and office space in this project. Retail area 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 Shakti Nath said.
Santosh Kumar, Vice Chairman of Anarock Group said, This partnership between Tribeca 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, NCR and Kolkata. It is developing two Trump Tower projects in Kolkata and Gurugram.
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.)