Emaar-MGF ink JV deal
Emaar MGF Land has entered into a 50:50 joint venture (JV) with Leighton Asia Southern, a part of Leighton Group, a large Australian project development and contracting group with revenue of over $8 billion. The new JV, Leighton Construction India, will begin operation with an investment corpus of $150 million. According to Greg Pauline, CEO of the new entity: The joint venture hopes to generate revenue of $2.5 billion and create employment opportunities for 1 lakh people over the next five years. Leighton Constructions first undertaking will be projects within Emaar MGFs 3,000-acre township in Mohali and Gurgaon.
MVL launches township
The real estate division of Media Video Limited (MVL) has launched a 124-acre township, Rivercity, in Yamuna Nagar, Haryana. The real estate consulting firm- Trammell Crow Meghraj projects a revenue of Rs 606 cr from an investment outlay of Rs 405 cr in this project. The township will include both, commercial as well as residential spaces. Commercial part of the city will will include a lifestyle shopping mall and a budget hotel. The project will be completed in two phases - the first phase will likely begin by the end of June07 and the second phase will be launched by the second quarter of 2008.
Pergo flooring wins award
Multi Housing News, a trade publication has recognised Pergo as one of the top flooring providers. The brand recently received the coveted Product Choice Award, given annually by the magazine and its readers to honour the vendors. Pergo was introduced in Europe in the 1980s and is now sold in more than 30 countries throughout the world. The company is listed on the Attract 40-list on the Stockholm Stock Exchange. Since its inception in India in 1998, Pergo today has successfully completed 6 million sq ft of installation.
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India’s Emaar MGF Land to put $3 bln in properties
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Emaar MGF land bank sparks debate on FDI
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