Mori Building Company, one of Japan’s largest real estate developers, is planning to enter India this year, two people close to the development told ET.
The $2.25-billion Tokyo-based property investment firm is planning to develop and manage commercial properties in India and could even tie up with a domestic player. “Mori had conducted a market research some time back and now it has finalised plans to invest in the country. While no amount is finalised, initial investments could be to the tune of $100 million,” a person in the know said.
Another person close to the development said the Japanese realty major is making a move at a strategic time. “Due to the regulatory changes in the real estate sector like RERA, it would be easier for many foreign players to operate in India,” he said.
Real Estate Regulatory Act is a legal framework introduced this year to keep errant real estate developers in check. Experts say this could bring transparency in the sector.
Source: Economic Times