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DLF, Nakheel Join Hands for Two Township Projects Worth

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As per the sources available with www.propertykhazana.com, the Delhi based DLF Group has tied with UAE based realty firm Nakheel for 2 Super Township ventures which will witness the firms with the investment of $10 Billion in India. These projects have also spotted the entry of Nakheel into the Indian Realty market. Sources also added that, out of $10 Billion investment the companies have well planned and out of which 40% will go on purchasing the property alone. But, DLF has already purchased 70% of property and 50:50 Joint Venture’s projects will cover a total area of 40,000 acres close to Gurgaon, Mumbai and Pune. Meantime, the companies are likely to start the building work for these ventures this year and the 1st phase of the building work will take at least 3 years to complete, said the source at the www.propertykhazana.com.
Meantime, DLF had also proclaimed several other JV’s in the previous year or so. Dubai based Nakheel has the credit for the famous ventures like The Palms, Dubai Waterfront and The World, and recently it is operating on as many as 17 ventures costing for over $30 Billion. This JV of Nakheel and DLF is important for both the firms and Nakheel’s has a tough rivalry in Dubai in housing segment from Emaar Properties which has a JV with an Indian Realty chief MGF. This JV among the Emaar-MGF has the rivalry with DLF in Gurgaon; however with the configuration of present JV among DLF- Nakheel, DLF has also got some benefits. Some weeks back, it had confirmed its proposals to enter into the Life Insurance sector jointly with Prudential Financial Inc of US. For more details logon to www.propertykhazana.com.
Source: NIMMA BENGALURU

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