PBEL has invested Rs500 crore and is actively pursuing more investment opportunities in the real estate sector across south India, to build high quality buildings and modern amenities in environment friendly surroundings.
PBEL PROPERTY Development (India) Pvt Ltd, a joint venture of Israel based Property and Building Corporation (PBC), Electra Real Estate (ERE) and INCOR infrastructure, has invested Rs20 crore in Mysore to build a residential township.
Announcing this development, PBEL, executive director Anand Reddy said, The Company has invested Rs20 crore on a 10 acre plot of land at Devanoor village along the ring road in Mysore to build a residential township. This is in tune with our strategy to build a land bank in secondary cities across south India. The company, in addition to Mysore, has short-listed Coimbatore in Tamilnadu and Vizag in Andhra Pradesh for sizeable investments.
More : newdesignworld.com
Send an E-Mail for India Property Enquiry!
Related News from India Properties
SVP Builders to invest Rs500 cr, enters healthcare
Ghaziabad-based real estate developer SVP Builders India Ltd, on 16 January announced an investment of Rs500 crore in residential, commercial and healthcare spaces in the next couple of years An SVP Group firm would offer over 3,100 flats in NCR and a 300-bed multi-speciality hospital in Faridabad. Diversification into energy and exports is also on the cards. We have already acquired 100 acres of land banks in the NCR region, which will facilitate construction of more than 3,100 apartments, providing 50 lakh sq ft of residential space and 2 malls covering 7 lakh sq ft of commercial space by 2010, said V.K.
US based Walton Street Capital to invest Rs 1,000 crore in Indian realty
The US-based hospitality and real estate fund Walton Street Capital (WSC) has decided to invest Rs 1,000 crore in the booming Indian real estate market in 2008. It has already tied up with property developers for investing Rs 600 crore at the project level. These investments will be made in special purpose vehicles (SPV) floated specially to implement projects. The fund is in talks with three Indian developers for the remaining investments, which is expected in a couple of months, said WSC managing director Sourav Goswami. Last year, the $13 billion Chicago-based WSC invested about Rs 800 crore in several
PSU banks jack up realty exposure
State-owned banks appear to have shed their relatively conservative approach compared to their peers in the private sector when it comes to lending to sensitive sectors such as realty. In a span of one just one year, the exposure of these set of banks to the real estate sector rose to 14.65% of their total advances by March 2006, up from 2.59%. While the government says this is an apples and oranges comparison considering that this includes loans towards residential mortgage, the data is quite significant, especially in the backdrop of the concerns expressed by the central bank on risks
Old Lane, RR Industries form JV to set up IT park
US private investment firm old Lane and city-based infrastructure development company R R Industries on Monday announced a joint venture to set up an Information Technology Park in the outskirts of Chennai. A total of USD 110 million (Rs 510 crore) is being invested in R R Skyline project, for which Old Lane and R R Industries will put in USD 45 million on a 50:50 basis. The balance would come in the shape of client deposits and bank borrowings, Old Lanes founder Managing Director Guru Ramakrishnan and R Rs CEO R Ravi, told reporters here. Old Lane has been
PSU banks exposure to real estate doubles
With the real estate market booming as never before, banks cant be far behind in doling out more credit to the hot sector. Public sector banks are leading the race to extend credit to the realty sector with their exposure more than doubling in 2005-06. According to the Reserve Bank of India (RBI), lending by PSU banks to the realty sector shot up by 102 per cent to Rs 1,56,903 crore in 2005-06 from Rs 77,313 crore in the previous year. The RBI has classified real estate as a sensitive sector — prone to high volatility and unpredictable movements —