Mahindra World City in Mahindra, ARCH Capital Asian Partners JV

Mahindra group's Special Economic Zone (SEZ) , Mahindra World City, will be set up in a joint venture with Mahindra Lifespace Developers and private equity fund ARCH Capital Asian Partners.

The Mahindra group will have a 51 per cent stake in Mahindra Residential Development, the JV company and ARCH Capital will have 49 per cent stake.

This project near Chennai will be spread across 55 acres, having 750 residential apartments as well as retail and recreational facilities.

ARCH Capital is part of the $4.3 billion Philippines realty company Ayala Land.

Mahindra Lifespace has a land bank of nearly five million Sq. Ft. and is coming up with two other Mahindra World Cities at Pune and Jaipur.

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