The Hindu Business Line : Germany’s ACI Real Estate scouting for franchisees

Hyderabad, April 9 ACI Real Estate, an affiliated of Alternative Capital Invest GmbH of Germany, has set its eyes on the booming real estate opportunity in India. To begin with, it appointed the Hyderabad-based Global Properties as a franchisee to take care of the Hyderabad and Bangalore regions.

Addressing a press conference here, Mr Sanjay Chimnani, Joint Managing Director of ACI Real Estate, said the company was looking at five more cities of Mumbai, New Delhi, Bangalore, Pune and Kolkata.

ACI Real Estate holds a portfolio of projects valued at $2.8 billion. This included ‘Sports Triology’ project in the UAE, named after the sporting legends of Niki Lauda, Michael Schumacher and Boris Becker.

Twin responsibilities

The company would scout for more franchisees to take care of the business in these cities. These franchisees would have twin responsibilities of tapping property buyers from India to invest in the UAE, while identifying the properties for development in the respective cities.

Mr Sanjay, however, did not indicate any specific property project for India. “We will come out with a project next year,” he said.

Mr Robin Lohmann, Managing Director, said the company would look next at the Russian market where there was a good opportunity.

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