Blackstone Real Estate Partners announced that it agreed to invest approximately 18 million dollars for a minority stake with board representation in Synergy Property Development Services Private Ltd.
Synergy, Formed in 2003, is now one of the top projects and construction management companies in India and currently has over 500 employees across nine Indian offices, with international offices in Dubai and Kualalumpur. Read More
Real estate developer Rakindo Developers has unveiled its plan to build a $1.5 billion (Rs 6,000 crore) integrated township at Coimbatore. It is expected to be ready for launch by the last quarter of 2008. Mr Prasad Koneru, MD, Rakindo Developers, told that the flagship project of Rakindo Developers in the texcity will be developed over 1,000 acres with an 18-hole golf course as the centerpiece.
21 January 2008: Emaar MGF and Fortis Healthcare plan to form a joint venture to set up 25 hospitals across major cities in India, with an investment of Rs 1,200 crore. Main aim of this healthcare plan is to provide the features of “one-stop shop”. That’s why they have decided that hospitals will provide upper secondary and lower tertiary levels of treatment. Each hospital will have 75 to 125 beds.
Emaar MGF and Fortis will sign a memorandum of understanding (MoU) for the 50:50 joint venture. This joint venture will be an exclusive arrangement mandated to set up the hospitals in ten years from the time the first site is transferred or acquired.
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