According to the sources available with www.propertykhazana.com, American Realty Baron A Alfred Taubman who had made Billions by developing elite shopping malls in US is now gazing ahead to set up a position in the Indian Real Estate. Taking into account, the confident expansion that is being observed by retail industry in India, NYSE had already planned Taubman Centers Inc first talks with PE and famous realty developers. Company had sent a team to India to file the prospects for retail development and managing malls and it was thinking upon to slight down one of the accessible choices by ingoing into the JV with the large realty fund like Anand Jain managed UIOF or creating many regional alliances with famed land developers in leading cities.
As per the sources available to www.propertykhazana.com, Taubman is thinking to have the discussions with UIOF from the past 3-4 months, but both the companies have not yet customized anything in this hold and also an email questioning to UIOF did not carry out any reply. One of the main things to take into account is the current organization of Taubman Asia with Hong Kong with its head office for growing in the Asia markets.
The source said at the www.propertykhazana.com that Taubman also had discussed with Prestige Group which is a main realty developer and Shriram Properties part of an expanded Chennai based group. Neeraj Duggal, Vice-President of Prestige Group said that, “Taubman has an idea to bring much for India than merely funds and we are taking into account regarding the forecasts but still it will be too early to comment.”
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