Chennai-based DRA Group has established a strategic cross-border alliance with the Balajadia Family office, known for its global investments and entrepreneurial ventures in the Philippines. This partnership, formalized via a Memorandum of Understanding (MoU), will involve the collaborative development of 1 million square feet of Grade-A commercial and retail space in India during Phase 1, with an anticipated investment amounting to $100 million.

The MoU was signed at the Philippines-India Business Forum in Bangalore by Ranjeeth Rathod, Managing Director – DRA Group and Dr. Lloyd Balajadia in the presence of H.E Ferdinand Romualdez Marcos Jr., President of the Republic of the Philippines and other high-level delegation from Philippines.

This 50:50 joint venture will be executed under a SPV Platform – symbolizing a union of Indian execution strength and international investment foresight. The initial development will focus on high-growth urban centers, beginning with Chennai and Bangalore. This MoU reflects the broader vision of both governments to foster stronger business linkages and people-to-people connections between India and the Philippines. It also marks a first-of-its-kind partnership in the Indian real estate space with a Filipino investor group.

Commenting on the occasion, Ranjeeth Rathod, Managing Director – DRA, said, “We are proud to partner with the Balajadia Family, whose global vision and entrepreneurial spirit resonate deeply with our values at DRA. Together, we aim to create world-class commercial spaces that contribute meaningfully to urban development in India. This collaboration allows us to combine local expertise with global capital to drive sustainable real estate growth. We also see this as the foundation for a broader Indo-Philippines engagement, with potential expansion into the Philippines real estate market in the future.”

Adding to this, Dr.Lloyd Balajadia said, “India represents a compelling growth story, and we are excited to work with DRA to shape new commercial destinations that reflect both innovation and local relevance. This partnership goes beyond brick and mortar – it’s about building long-term value across borders by blending market insight, cultural understanding, and capital strength. We look forward to not only creating landmark developments in India but also welcoming future collaborations that bring Indian expertise to the Philippines in time.”