Prestige & Arihant to Jointly Develop Projects in Chennai

Prestige Estates Projects Ltd, the Bengaluru-based real estate developer, has entered into a framework agreement with Chennai-based Arihant Foundations & Housing Ltd to collaborate and jointly develop real estate projects in Chennai.

This collaboration signals a strategic growth plans for both companies by building on each other’s expertise to create long-term value.

The two companies will explore opportunities across various real estate segments, including residential, commercial, retail, and hospitality developments.

The projects will be undertaken on a joint venture basis, with both parties bringing their respective expertise, strengths, brand value, and market knowledge to deliver high-quality developments that cater to the evolving needs of the Chennai market, the companies said in a release.

Each identified project will be governed by separate definitive agreements, which will outline the terms of the joint development and will be executed as and when specific opportunities are finalised.