Mitsubishi Estate to acquire a 49% stake in Birla Estates for $67m.

Mitsubishi Estate, a real estate developer, agreed to acquire a 49% stake in Vardhita Properties, a company engaged in the development of residential housing, from Birla Estates, a luxury real estate developer, for $67m. “We are pleased to announce our strategic collaboration with Mitsubishi Estate, marking its maiden investment in India’s residential real estate sector, to develop premium residential project. Starting with this project, this partnership will combine MEC’s global expertise and our deep local insights to deliver world -class living spaces. Our vision is to create modern, sustainable communities that cater to the evolving needs of Indian homebuyers, while setting new standards in the residential real estate sector across the country," K. T. Jithendran, Birla Estates Managing Director and CEO.