DRA Enters Into $100 Mn Indo-Philippines Partnership to Develop Grade-A Commercial Assets in Chennai, Bangalore

Chennai, August 8, 2025: In a move that reinforces the growing economic ties between India and the Philippines, Chennai’s DRA Group has entered into a strategic partnership with the renowned Balajadia Family office, global investors and entrepreneurs from the Philippines.

The collaboration, formalised through an MoU, will see the joint development of 1 million square feet of Grade-A commercial and retail space in India under Phase 1 with an estimated investment value of $100 million.
 
The MoU was signed at the Philippines-India Business Forum in Bangalore by Ranjeeth Rathod, MD, DRA Group, and Lloyd Balajadia in the presence of Ferdinand Romualdez Marcos Jr., President of the Philippines, and other high-level delegates from that nation.

The unique 50:50 JV will be executed under an SPV platform, symbolising a union of Indian execution strength and international investment foresight. The initial development will focus on high-growth urban centres, beginning with Chennai and Bangalore.

The 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.

Rathod 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.”

He added, “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.”

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.”