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Shapoorji Pallonji Real Estate partners with Lokhandwala Infra - Zint Design
Shapoorji Pallonji Group’s real estate arm SPREL has partnered with Lokhandwala Infrastructure to jointly develop a marquee project ‘Minerva’ coming up at Mahalaxmi in South Mumbai. As per the development management agreement the Shapoorji Pallonji Real Estate (SPREL) will develop, manage and market the iconic project. Under the development model, large realty firms step in as development managers for smaller developers and landowners, in return for a share of the revenue, share of profit or a management fee. This partnership model got a boost in the last 2-3 years due to the rising distressed projects in the real estate market. Minerva