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Panchshil Real Estate bonds with Korean based HanmiGlobal for a joint venture

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As per the sources available to www.propertykhazana.com, aiming on the government planned infrastructure venture costing Rs. 60,000 Crores, Pune Based Panchshil Real Estate has signed up Memorandum of Understanding with the Korean based Hanmi Global to take up the construction. HanmiGlobal was formerly known as HanmiParsons has now joined its hands with Panchshil Real Estate to complete the assigned contract.
Panchshil Real Estate Chairman and CEO Atul Chordia said that “Company will deal with the opportunity in the country for the venture and even 1.5-2% of this pay out planned by the government would be an important trade opportunity. Company will originally hub on the infrastructure venture tendered by the government of Gujarat and Bihar because these states are better managed.”
Source revealing at www.propertykhazana.com says that, as the beginning the Joint Venture will start to work on the two projects of Panchshil that is Business Bay on the Airport road and community venture at Wagholi and both the upcoming projects are in Pune. Meantime, Business Bay is 1.5 Million sq ft covering project with the retail and hospitality where Panchshil had said that it planned to construct a hotel for a best brand with the JW Marriott, one of the leading names in the construction sector. AS per the available reports it is said that the hotel is planned with 250 business class rooms. Chordia said that “This venture shall permit both to obtain a happening experience as well as to take up few more projects on Joint-venture basis in the coming days.”
Source: NIMMA BENGALURU

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