DLF Invest Rs.60000 Crore – Bidadi Knowledge City Bangalore

The Karnataka government on Monday awarded the 9,187-acre Bidadi Knowledge City, which will be positioned as New Bangalore, to the country’s largest realty firm DLF Ltd.

This project is three times the size of DLF City, the realty firm’s flagship integrated township in Gurgaon.

The project will entail an investment of over Rs 60,000 crore (Rs 600 billion) and will be developed in a 50:50 joint venture with the Dubai-headquartered Limitless Holdings, a sister company of Nakheel and a part of the diversified Dubai World group.

DLF and Nakheel already have a 50:50 joint venture for developing two townships of 20,000 acres each at Gurgaon and south Maharashtra at an initial investment of Rs 40,000 crore (Rs 400 billion).

DLF will be sponsoring a $1-1.5 billion fund to finance the three townships it is developing with Nakheel. The company will sell a part of its equity in the townships to the fund.

The township will be based on the ‘walk-to-work’ ideology. It will comprise high-quality office space, residential developments, shopping malls, multiplexes, hotels and service apartments. Of the entire area of 9,178 acres, 6,000 acres can be developed by the realty firm.

for more informations – http://www.rediff.com/money/2007/oct/03banga.htm

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Filed under: DLF, Real Estate , bangalore, bangalore property, dlf, dlf new project, dlf township, India, proeprty, property news, resl estate

Uppal Group Tied With JW Marriott

India Real estate developer Uppal Group has tied up with hospitality major JW Marriott for developing and managing two five star hotels at an investment of Rs 500 crore.

“We will be investing about Rs 500 crore for developing both properties which will be managed by international chain JW Marriott Hotel,” Uppal Group CEO (SEZ and Hotels) Gian Bansal said.

One of the hotels would come up in Gurgaon comprising 210 rooms, while other hotel in Chandigarh would have 175 rooms. This would be a revenue-cum-profit sharing agreement with the international hotel chain, Bansal said. India property would be operational by 2009.

Sources  & For more informations visit  - http://indiarealestatemonitor.com/property-news/uppal-group-tied-with-jw-marriott/ 

Filed under: Uppal Group , JW Marriott, Uppal Group