US firm Brahma Capital in deal with Bestech

NEW DELHI: New York-headquartered investment firm Brahma Capital has signed a joint development agreement with Gurgaon-based builder Bestech Group to build a commercial office-cum-retail complex on 12.2 acres in Gurgaon’s Sector 16.

Under the agreement, Bestech will build over 1 million sq ft of space on the land with 40% of it in a commercial office tower and the rest as a separate retail complex, said Sunil Satija, MD of Bestech, which will invest Rs 300 crore in the project. The plan is to sell the commercial office space while the retail space will be leased, he added.