Ananda Development having set up a joint-venture firm with Mitsui Fudosan Residential, plans to transfer know-how from the Japanese partner in order to develop its construction process and reduce costs by at least 20% in the next three years.

The listed company is also studying the development of a rental-income business, including the office and retail segments, and may launch a real-estate investment trust (REIT) within the 2014.