The investment will accelerate the development of SPR’s flagship commercial projects, including the Market of India and the Mall of Madras

SPR Construction Private Limited (SPR) has secured a major investment of Rs. 750 crore from funds managed by Oaktree Capital Management, L.P., one of the world’s leading alternative investment managers with USD 209 billion in assets under management. This funding marks a significant milestone for SPR City, Chennai’s largest integrated township, and reinforces global investor confidence in the project’s strong fundamentals.

The investment will accelerate the development of SPR’s flagship commercial projects, including the Market of India and the Mall of Madras. Together, these developments are expected to redefine Chennai and Southern India’s shopping and trade landscape. The Market of India will host over 3,000 units spanning categories such as gems and jewellery, electronics, textiles, building materials, imported goods, and packed foods. The Mall of Madras will feature over 300 branded stores along with a six-screen cinema, making it a premier destination for retail and entertainment.

This funding also enables the full repayment of existing debt to Altico Capital and is expected to unlock value across 3.5 million sq. ft. of commercial assets. Based on employment trends in commercial spaces, the combined projects could generate direct employment for approximately 35,000 people and indirect employment for over 100,000 individuals, significantly impacting the socio-economic landscape of North Chennai and Southern India.

Oaktree’s decision follows rigorous due diligence by leading advisors, including Deloitte for financial and tax matters, AZB Partners for legal and title, Knight Frank for technical and cost assessment, and Planmaxx for mall advisory and feasibility studies. Key factors influencing the investment included strong asset coverage, high sales visibility, the rising prominence of Perambur Mill area, and SPR’s track record in high-rise and integrated township developments.

With over 55% of retail space already leased and substantial progress across residential and commercial components, SPR City is poised to become a transformative growth hub for Chennai, strengthening SPR’s credibility among institutional investors, lenders, and homebuyers alike.