Business Daily from THE HINDU group of publications
Friday, Aug 22, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, Aug 22, 2008 ePaper | Mobile/PDA Version | Audio |
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Industry & Economy
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Real Estate & Construction Corporate - Alliances & Joint Ventures States - Andhra Pradesh PBEL unveils Hyderabad project 
Mr Anand Reddy, Director of PBEL Property Development India Pvt Ltd, an Indo-Israeli joint venture, poses with a model of PBEL City, a township comprising13 residential and two commercial towers of 19 storeys each on a 28-acre patch located in Hyderabad’s Growth Corridor in Rajendranagar mandal. Our Bureau Hyderabad, Aug. 21 PBEL, an Indo-Israeli joint venture real-estate company, has announced the launch of the first phase of the Rs 1,200-crore PBEL City, a residential-cum-commercial venture, on the outskirts of the city. The phase-I would have two towers, housing 500 flats with a price tag of Rs 41-52 lakh. Addressing a press conference here on Thursday, Mr Anand Reddy, Executive Director, said the project was expected to be completed in 18 months to three years. Stating that the project was targeting people in the age group of 25-40 and working in information technology, IT-enabled services, banks and airports. Situated near the second exit of the upcoming Outer Ring Road (ORR), the project would have a total of 13 residential and two commercial towers. The company had tied up with L&D, a Malaysian interior design solutions provider, to provide modern interiors. “The buyers, however, could opt out and have their own furnishings,” he added. After Hyderabad, the company drew plans to take up projects in Chennai and Mysore. More Stories on : Real Estate & Construction | Alliances & Joint Ventures | Andhra Pradesh
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