Friday, July 09, 2010: 12:20:46 PM

National News

UEMC Signs JV with Opus to Build a New Township

UEM Constructions (UEMC), a construction and real-estate development country in Malaysia, announced its entry into the Indian real-estate market. The real-estate developer has signed a 50:50 joint venture agreement with Opus Properties, an Indian real estate firm. The companies have signed the agreement to collaborate on a township development project, which will be accomplished along the National Highway 24, over an area of 500 acres.



Danat-a-Pearl, the township, will be constructed by UEMC Opus Contracts, the joint venture firm formed after the recent agreement. The project will involve a hefty investment of Rs 1,500 crore to build residential apartments for people from the lower and middle-income classes. The apartments will be available in the range of Rs 10 lakh to Rs 50 lakh. The apartment sizes will vary from 600–1500 square feet each. The township will comprise 3,368 apartments, 131 villas, 526 plots, 981 independent floors and 182 country homes. UEMC has taken the decision to tap the low-and middle-income sections of Indian society, which, according to the company’s strategists, is a great investment opportunity.

Rate me....
Mail this article Mail this article Print this article Print this article

Contribute/ Share your Opinion

More

Page 1 of 10




Search

Keywords:
Sections:

Magazine Issues

Events

logo
About Us | Contact us | Advertise with us | Terms of use | Privacy Policy
Other Times Group Sites: