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SPR Construction has secured INR 750 crore in investment from funds managed by Oaktree Capital Management, marking a significant boost for SPR City, the company's flagship integrated township in Chennai. The funding is expected to expedite the completion of key commercial assets, including the Market of India and the Mall of Madras, both central to SPR's long-term development strategy. This investment also enables the repayment of existing project debt and unlocks substantial commercial value across 3.5 million sq. ft. of space. With strong pre-leasing and rising market traction in the Perambur Mill region, the projects are positioned as major catalysts for trade and retail growth in Southern India.
SPR Construction announced that it has secured an investment of INR 750 crore from funds managed by Oaktree Capital Management, recognised globally for alternative asset management. The company stated that this funding represents a key milestone for SPR City, which is positioned as Chennai's largest integrated township development. Advertisement
The capital infusion is expected to accelerate progress on two major components of SPR City - the Market of India and the Mall of Madras - which the company expects will play a major role in reshaping the retail and trade environment of Southern India. The investment is projected to help unlock value across 3.5 million sq. ft. of commercial property, including a mall featuring a six-screen cinema and more than 300 branded stores, and a trade hub comprising over 3,000 units serving sectors such as gems and jewellery, electronics, textiles, building materials and packaged goods.
SPR added that the funding facilitates full repayment of existing debt linked to the project. The combined commercial developments are anticipated to form one of South Asia's largest shopping and multi-commodity trading destinations. Based on standard employment estimates, the company expects the projects to create approximately 35,000 direct and over 100,000 indirect jobs, significantly influencing the socio-economic landscape of North Chennai and surrounding regions.
Oaktree's decision followed detailed due diligence by global advisory firms covering financial, legal, technical and feasibility assessments. Key factors supporting the investment included strong asset visibility, favourable market traction in the rapidly developing Perambur Mill area, and SPR's track record in high-rise and township developments. SPR noted that it has previously raised capital from multiple financial institutions and has fully repaid those investments through strong revenue generation.
The company highlighted that more than half of the retail space across the project is already leased, with progress continuing across both residential and commercial components. SPR City is expected to emerge as a major growth centre as the next development phases progress.
The investment from Oaktree marks a decisive step for SPR as it advances the next stages of its integrated township in Chennai. With major commercial components nearing completion and significant value expected to be unlocked in the coming months, the project is set to strengthen the city's retail and trade ecosystem. Strong pre-leasing levels, strategic site location and robust investor backing position SPR City as a key emerging hub for economic activity in North Chennai. The project's anticipated employment impact further underscores its broader socio-economic significance for Southern India.
Source - PTI
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