Indian Real Estate Developers Unleash Dream Projects

By: George Gonigal

At time, foreign players enter into Indian real estate to tap the underlying opportunities in the sector, Indian real estate developers, at the other end, march towards foreign lands

Having achieved an astounding success in the domestic property markets, Indian real estate developers are now exploring opportunities into foreign territories.

In fact, Indian developers have shown guts to plan and execute some of the largest infrastructure and real estate projects on foreign countries. Just look at Bangalore headquartered Embassy Group that signed a pact with Serbian Government to construct the largest ever IT Park in Serbia, at the cost of $600 million.

India's largest real estate developer DLF Group, based in Delhi, recently announced a 50:50 joint venture with the UK-based, infrastructure major Laing O'Rourke with an initial capital of 500 crore. Mumbai-based developer Runwal Group and Singapore-based CapitaLand Group have entered into 51:49 joint venture to develop residential projects.

Recently, Ansal API joined the bandwagon by entering into a joint endeavor with Malaysia's UEM Group. The venture can proffer for government projects in Malaysia and other countries, and it has been named as Ansal API-UEM Contracts Pvt Ltd.

Bangalore head-quartered Embassy Group went a step ahead and announced perhaps the first-of-its kind project by an Indian real estate developer in Eastern Europe. The group inked a deal with the Serbian government to construct Serbia's largest IT Park, at a whopping investment of $ 600 million.

Further, construction major Parsvnath Developers also close on heels to tie up with foreign investors. The group has a couple of projects in Dubai, Mauritius, and Singapore, dealing in the retail and hospitality sectors.

The company is also planning a link with foreign based developers for risk sharing for these imminent projects. According to sources, the discussions are on with the Al-Hasan Group in Oman for the same. Going as per the current trend, the future resolves to see more such tie ups and joint ventures.

It was about three months back in July 2007, Ansals made its first foreign foray with Dubai's Deyaar. The strategy focuses on Ansals API's need to slice out a presence for itself in the southern and western parts of the country.

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