Indian Builders Being Bullish on Foreign Tie-Ups

October 15, 2007	(1 votes, average: 3 out of 5)  Loading ...
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Indian builders are looking forward to foreign destinations for expansion.  DLF, in a notice to stock exchanges, averred to consider international acquisitions and investments in real estate projects abroad.

Let’s take a look at the plans of other Indian property developers. Recently, Ansals API has entered into a joint venture with Malaysia’s UEM Group. The venture has been named as Ansal Api-UEM Contracts Pvt Ltd, which can bid for government projects in Malaysia and other countries.

Ansals made its first foreign tie up with Dubai’s Deyaar around three months ago. The venture is working on integrated townships in India. It also has plans to focus on the western and southern parts of the country where Ansals API has to carve out a presence for itself, says Kunal Banerjee, Vice-President (marketing), Ansals API.

Close on heels are other builders such as Parsvnath Developers. The company has a couple of projects in the retail and hospitality sectors in Dubai, Mauritius, and Singapore.

The company may join hands with local developers to share the risks for these projects. It is already holding discussions for such a deal with the Al-Hasan Group in Oman.

News Published Under:   Real Estate Developers |

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