Foreign Developers Bullish on Properties in Tier II, III cities

May 18, 2007	(1 votes, average: 1 out of 5)  Loading ...
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Real estate in Metros is moving at snail’s pace. As opposed to this are the tier II and tier-III cities witnessing rapid development in wake of new real estate projects lined to be built by foreign developers who are bullish on Indian real estate but want to trap smaller cities.

Recently, Emaar Group, a leading real estate company in Dubai, has signed an equal partnership contract with Delhi based MGF to develop projects worth $4 billion in India. The companies have decided to come up with the construction in emerging property markets such as Hyderabad, Mohali, Ludhiana, Jalandhar, and Chandigarh.

Madhya Pradesh saw its first lot of foreign direct investment with a launch of Silver Springs’ residential township in Indore which is being jointly promoted by Fire Capital Fund Pvt Ltd, based in Mauritius and the M Jhaveri Group.

Prozone Enterprises, a subsidiary of the retailer Provogue India, has acquired major stakes in special purpose vehicle (SPV) floated by Hagwood Commercial Developers and Omni Infrastructure to construct exclusive shopping malls in Nagpur and Indore.

Jurong International, a multi-disciplinary Group which offers a strategic suite of design and construct, is soon to come up with a mega township in Amritsar which will spread over an area of 80 hectares.

Then, there is the Jerusalem Economic Corporation (JEC) is planning to buy land in Thane. The cost of the land is believed to be $330 million.

News Published Under:   Real Estate Developers |

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