Business Daily from THE HINDU group of publications
Monday, Jul 02, 2007
ePaper
Business Daily from THE HINDU group of publications Monday, Jul 02, 2007 ePaper |
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Corporate
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Alliances & Joint Ventures States - Andhra Pradesh Opus in pact with Malaysian group for Rs 800-cr township
Our Bureau Hyderabad, July 1 Sunway City Berhad Malaysia, a real estate and construction consortium, and Opus Developers and Builders of Hyderabad, have floated a 50:50 joint venture to implement a Rs 800-crore integrated township project here. The top brass of the $1-billion Malaysian company and Opus Developers, a consortium of real estate developers from Hyderabad, signed the joint venture agreement. An equity of Rs 50 crore will be infused and a further Rs 150 crore raised by the promoters to meet the working capital needs of the project, according to Mr H. Bhawarlal Jain, Joint Managing Director of Opus Developers. The objective is to build super luxury deluxe homes of 1,600-1,800 sq ft in the range of Rs 50-60 lakh. The company is targeting middle and upper middle class people, especially the high earning IT and pharma employees who can afford the EMIs, Mr Jain told newspersons. A Malaysian architect firm will provide the design.
More Stories on : Alliances & Joint Ventures | Real Estate & Construction | Andhra Pradesh
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