DB Realty Ltd today said its subsidiary firm has entered into an agreement with a Radius group's firm to develop a housing project in Mumbai.
DB Realty's arm Neelkamal Realtors Tower has entered into a development management agreement with Indo Global Soft Solutions and Technologies Pvt Ltd for the development of its Orchid Height project on over 19,000 sq meter land parcel, the Mumbai-based developer said in a regulatory filing.
Indo Global Soft Solutions and Technologies is part of realty firm Radius group.
As per the agreement, Indo will arrange the entire funding required for the project and will be jointly responsible to construct, develop and market the housing project with construction area of 3.2 million sq ft.
Indo Global has provided the initial funding requirement for fast completion of the project.
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