Daibiru Joins Office Building Development Project in India
- Steadily Pursuing Portfolio and Regional Strategies in Blue Action 2035 Management Plan -

June 28, 2024

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that its group company Daibiru Corporation (President & CEO: Takashi Maruyama; Head Office: Kita-ku, Osaka) invests about US$123.5 million to join the Atrium Place Project (Note 1), an office building development project near Delhi, along with Hines, a global real estate investment, development, management, and operation company (Note 2) through the Daibiru Hines Trust, which was established in Gujarat International Finance Tec-City (GIFT City) (Note 3).

The project, Daibiru's first in India, construction of four A+ grade office buildings with a leased floor area of about 3 million square feet and a parking lot on 11.76 acres of land in the Central Business District (CBD) of Gurugram, near Delhi, and its construction is currently well underway toward the schedule completion of the building in 2025.

In the "BLUE ACTION 2035"management plan launched in March 2023, the MOL Group is working to diversify its business portfolio by increasing the weight of non-shipping, stable revenue businesses that counter-balance the volatile shipping market. The group is also following a regional strategy as a key to driving overseas investment, including business development in emerging countries with promising economic growth prospects, drawing upon its overseas network. India is a key pillar of the MOL Group's strategy. This investment follows other recent major investments, such as the formation of a rapidly growing shipping business through MOL India.
Daibiru possesses 100-plus years of expertise in the office building business in Japan, and has participated in overseas building development projects in Vietnam and Australia (Note 4) Daibiru and MOL's regional organizations, which develop businesses globally, will continue to cooperate and proactively engage in real property business overseas.
The investment takes advantage of the new investment platform created by the Government of India through GIFT City, which offers regulatory, tax and other benefits.

• (Note 1) For details on the Atrium Place project, please refer to the Daibiru press release.
• (Note 2) Hines: A privately held, leading integrated real estate developer based in Houston, Texas, U.S., with real estate operations worldwide. Founded in 1957 by Gerald D. Hines, the company currently operates in 30 countries and has US$93.2 billion in assets under management, consisting of residential, logistics, retail, office, and mixed-use assets. The company also offers real estate-related services at 1100 properties worldwide. (https://www.hines.com/)
• (Note 3) A special economic zone, established in the state of Gujarat, India. Developed as India's first smart city concept, it is attracting companies through state-of-the-art infrastructure and deregulation.
• (Note 4) For information on past overseas investment projects, please refer to the press release below.
  May 22, 2023: "Daibiru Joins Office Building Development Project in Melbourne, Australia"
  December 18, 2023: "Daibiru Acquires Equity Interest in Central Hanoi Office Building - Following Projects in U.S. and Australia, Pursuing Overseas Investment Utilizing MOL Group network -"

MOL Group 5 Sustainability Issues
MOL Group identifies "Sustainability Issues" (Materiality) as our key issues for sustainable growth with society through realization of the Group Vision.
We anticipate this initiative to contribute especially to the realization of "Safety & Value -Provide added value through safe transportation and our social infrastructure business-" and "Human & Community -Contributing to the growth and development of people and communities-".