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Indian developer sets sights on London with £3bn war chest

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Indian property developer Lodha Group has said it wants to be among the leading housing developers in London

The developer has set its sights on becoming one of the top two residential developers in the capital and intends to pump £3billion into its expansion programme.

Lodha’s managing director told the Financial Times that he planned to challenge the UK’s major housebuilders such as Berkeley Group and Barratt Development.

He said it would be the ‘the largest foreign direct investment in the [UK] housing space ever’.

The group has set aside £1.84 billion for the acquisition of new assets and a further £1.63 billion for construction.

Lodha Group has already set its sights on a number of landmark properties, having submitted plans for the redevelopment of the former High Commission of Canada’s building, Macdonald House, in London, back in May.

The scheme, drawn up by MSMR Architects, include 41 residential apartments, leisure facilities, and a green roof.

It is understood Eric Parry Architects has been brought into take the scheme forward.

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