DRA Group and Balajadia Family Launch $100 Million Real Estate Platform in South India
Chennai-based DRA Group and the Balajadia family from the Philippines have joined forces to launch a $100 million real estate platform, targeting high-yield office and retail assets in South India.
Real EstateDra GroupBalajadia FamilySouth IndiaCommercial DevelopmentReal Estate MumbaiAug 09, 2025
The first project, a 60,000 sq ft retail center in Chennai's OMR corridor, is currently underway with an investment of $10 million. Another upcoming project is a 1.6-acre commercial center in Chennai. The platform has set a medium-term development target of over 1 million sq ft, with assets ranging from core central business district (CBD) plots to growth locations in suburban areas. The portfolio will comprise 70% commercial and 30% retail assets across Chennai and Bengaluru.
Ranjeeth Rathod, Managing Director of DRA Group, stated, "The platform allows us to take a programmatic approach to both greenfield and value-add commercial projects, while de-risking through tenant pre-leasing and asset-backed capital deployment over the next three years." For DRA Group, known for residential and mixed-use townships, this platform marks a significant shift into institutional-grade commercial and retail real estate.
As part of the platform strategy, DRA plans to acquire 1.5-2 acre land parcels in high-absorption micro-markets with strong infrastructure. This strategic move is expected to capitalize on the growing demand for high-quality commercial and retail spaces in South India, particularly in Chennai and Bengaluru.
Frequently Asked Questions
What is the total investment for the real estate platform?
The total investment for the real estate platform is $100 million (about ₹876 crore).
Which cities will the platform focus on initially?
The platform will initially focus on Chennai and Bengaluru.
What is the size of the first retail project in Chennai?
The first retail project in Chennai's OMR corridor is a 60,000 sq ft retail center.
What is the medium-term development target of the platform?
The platform has set a medium-term development target of over 1 million sq ft.
What percentage of the portfolio will be commercial and retail assets?
The portfolio will comprise 70% commercial and 30% retail assets.
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