InvestorQ : What is the latest joint venture between Phoenix Mills and Canadian Pension Fund?
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What is the latest joint venture between Phoenix Mills and Canadian Pension Fund?

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3 weeks ago
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Phoenix Mills and Canada Pension Fund or CPP Investments, are getting together to develop a mixed-use asset in Lower Parel area of Mumbai, which will be office space led. This property will be part of Phoenix Palladium in Mumbai and is likely to be completed by 2026.

CPP Investments of Canada proposes to invest Rs.1,350 crore in tranches to acquire a 49% stake in the property. It will help to develop office space with potential leasable office area of 1 million SFT and retail leasable area of 0.20 million SFT. This will take the total commitment of CPP Investments to Phoenix to Rs.4,100 crore.

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