Parsvnath Mulls to Tap Overseas Real Estate

August 21, 2007	(1 votes, average: 3 out of 5)  Loading ...
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Parsvnath Developers Ltd. draws plans to step into the international property market by setting up offshore companies in different countries to start with exclusive real estate projects overseas.

These offshore companies will come under the ambit of Parsvnath, says Pradeep Jain, Chairman, Parsvnath Developers.

The company is working on its business structure to start with its plans as soon as possible. However, the plan is likely to be ready within a month’s time.

Parsvnath Developers envisage broadening its horizons to countries such as Sri-Lanka, Mauritius, Singapore, and the UK.

As such, the company enjoys a strong presence all over India and wants to carve out a substantial niche overseas.

Indian real estate did not slow down its pace despite giving off the signs of a downslide. The firm will either take a joint venture route with local developer it or foray on its own. It has already signed a joint venture agreement with the Oman based Al-Hassan Group of Industries to tap Oman property market.

The International property market offers productive prospects as it enjoys greater transparency. Also, this gives the company the confidence to gain better expertise, adds the Chairman.

The company is also holding high talks with prominent global airport operators to jointly bid for airport modernization and management.

News Published Under:   Real Estate Developers |