Realty developer Wadhwa Group is eyeing redevelopment of old and dilapidated tenanted projects in India’s commercial capital as a growth opportunity for the company.

Wadhwa Group is in talks with Japanese institutional investor Marubeni Corp for real estate investment platform

Japanese institutional investor Marubeni Corp is in talks with realty developer Wadhwa Group to set up a dedicated platform to acquire new projects and redevelopment of residential societies in Mumbai.

For the execution of such redevelopment projects, this will be the first time that a global entity is looking to take financial exposure

Wadhwa Group and Marubeni partnershiped last year and signed an agreement for investing in the realty developer’s a nearly 1-million-sq-ft residential project, Atmosphere, in Mumbai’s Mulund suburb.