Japan's Marubeni Rs 300 crore for Wadhwa Group's project

Japanese institutional investor Marubeni Corporation has agreed to invest Rs 300 crore in realty developer Wadhwa Group’s nearly 1-million sq ft residential project ‘Atmosphere’ in Mulund suburb of Mumbai. This is Marubeni’s maiden investment in Indian real estate. It said in a statement that it will be investing in the project by subscribing to non-convertible debentures (NCDs) issued by the company’s project subsidiary, Atmosphere Realty. The investment will be used for the project’s second phase--Atmosphere O2--being developed by Atmosphere Realty. The first phase of the project has already been completed and delivered to 650 customers.