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European real estate giant enters India
| March 3, 2008 |   (2 votes, average: 4 out of 5) Loading ... |
India & China are perhaps the major real estate markets in the world now. As a concept, “branded homes” is fairly unknown in India. Yoo by Strack finds India as an attractive country to design and develop real estate projects. Real estate development company ‘Yoo by Starck’ has entered India.
The first project named ‘Yoo in Pune’ is being developed by Panchshil Realty over 21 acres of land. The first phase of this project will have six 30-storie-towers.
Panchshil Realty Managing Director Atul Chordia said, “Residential service condominial is a new concept worldwide and hardly anyone has thought of replicating it in India. A service condominial offers much more that what a service apartment offers. At “Yoo in Pune”, we will have companies like Oakwood Resorts and Mariott Hotels to provide services. The project would be launched in October this year and it would be completed within 30 months there after.”
Although, Yoo does not have direct investments in Pune project, it will act as a joint developer with Panchshil in future projects. It will spend around 25 per cent of the project costs.
News Published Under: Real Estate India, Pune, Real Estate Companies |
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