Yoo by Strack is now ready to enter in Indian real estate market. The company is coming here with a huge residential project worth one thousand five hundred crore in Pune. The local partner of the company will be panchshill realty. The project will cover over 21 acres of lands and in the first phase Project will have six 30 stories towers.
Company is also thinking to keep eye in major Indian metro cities like Delhi, Goa, Bangalore etc with an approx investment of one thousand eight hundred crores in next four to five years.The chairman of the company announced it in press conference on Thursday in pune. The brand name “Yoo by Strack” is already working in twenty one countries all over the world. The company is currently involved in 41 projects around the world with an investment of Rs 40,000 crore.
Since India and China are leading real estate market in the world, there are bright chances for investment, thinks John Hitchcox chairman of Yoo by Strack. Also in India the concept of Branded home is fairly popular, for the same reason therefore,the company is interested in investing in the Realty Sector.
NEW DELHI:Cigarette manufacturer GTC Industries pronounced that its board of directors has considered and decided an in-principle approval to separate the tobacco and the real estate business into two different entities.
The two entities would be listed separately on the stock exchanges in India.
ET had initially reported plans of a separation of the real estate business last November.
Commenting on the progress, GTC Industries chairman Sanjay Dalmia told that the separation would unlock distinctive shareholder value across both verticals, tobacco as well as the real estate. The company is in the process of probing different options for working out a suitable scheme of separation keeping the interest of shareholders in mind.”
As reported earlier, GTC Industries had been looking forward to separate its real estate assets spread across Mumbai, Baroda and Hyderabad into a separate company.
The separated entity would then become a real estate development company while GTC would remain the cigarette manufacturer with brands like Panama and Chancellor. The separated companies would form joint ventures and develop real estate assets.
MUMBAI: Indiabulls Real Estate(IBREL), the real estate division of the Indiabulls group, has decided to take greater part stake in Dev Property Developers, the London-listed property fund, in order to gain best part control over two of its prized properties in Mumbai. IBREL has bought over 90 percent in DPD for about Rs 1,100 crore.
DPD, which is listed on London’s Alternative Investment Market, in turn holds a minority stake in various realty assets, a majority of which are owned by Indiabulls group, like Jupiter Mills, Elphinstone Mills and the 6,000-acre SEZ at Raigad in Maharashtra. It is expected that the deal would help IBREL launch its Real Estate Investment Trust (REIT) in the Singapore Stock Exchange (SSE). IBREL had received the approval to list REIT at SSE and initiated steps to create a property trust prior to the listing.
Jupiter and Elphinston Mills were purchased by Indiabulls in a series of high-profile transactions in 2005 from state-owned textile firm NTC. Indiabulls plans to convert them into commercial complexes.
