After success into Dubai, real estate player Omaxe is all set to enter the Mauritian property market with a plan to develop a fifty acre residential project.
The Delhi-based company has identified a project of fifty acres and planning to develop a residential township there. The land for the township is probably to be provided by the government and the company is expecting to receive the ownership of the land within a week. Omaxe would carry out the Mauritian project alone. Read More
German investment bank SachsenFonds (SF) has bought stake in four realty projects of London Stock Exchange listed, India-focussed realty fund Trikona Trinity Capital for Rs 607 crore ($150 million). Trikona has made returns of 115% in the transaction.
In the Delhi-based Uppal IT park, SF raised its stake from 8% to 33%. In the Hyderabad-based residential and retail project Manjira, SF picked up 41%, thereby completely owning the project.
In the MK Mall being developed by DB Realty in Mumbai, SF picked up 40% and now owns 100% of the mall. SF also took 15% stake in Delhi’s Luxor Cybercity, owned by Trikona. Read More
The real estate developer Housing Development and Infrastructure Limited got the government approval for the popular Mumbai airport slum rehabilitation programme. Mr. Sarang Wadhawan, HDIL Managing Director said, “The tenement limit has been increased from 225 square feet to 270 square feet . As the size of the tenement has gone up, the transfer of development rights will increase accordingly by about 20% more”.
Australia investment bank manager Babcock & Brown hopes to invest in $2 billion of Indian property and infrastructure assets within three years and has poached nine investment bankers from ABN AMRO for the task.
Mr. Jaginder Singh Pasricha, executive director for business development in India, told Reuters the infrastructure specialists he pinched from the Dutch bank had started their fund on Monday. 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.
BANGALORE - IBM Corp plans to make better growth in India as part of its strategy to improve focus on promising markets and as local companies spend more on technology to cut costs and improve efficiency, an official said on Tuesday.
The realestate and constructions company IDEB is building infrastructure in all major cities of India. This will include Bangalore, Pune, Hyderabad, Jaipur, Mysore, Chandigarh, Dehradun, Kashipur and Delhi. Read More
