India Real Estate Monitor » Millennium Spire

Millennium Spire Enters Indian Realty

Fri, 29 Aug 2008 08:17:42 +0000

Millennium Spire Limited, an “Alternative Strategies Fund” under the U.K.-based Millennium Global umbrella, on Thursday announced its foray into the Indian real estate sector unveiling its maiden platform for developments in the Indian market, Spire World, a platform that would drive development of mainstream green projects of Millennium Spire in the country.

The unveiling of ‘Spire World’ also marked the launch of the company’s first “Mainstream Green” project in India, Spire Edge, a sprawling 1.6 million square feet of scalable eco-office complex with an energy saving capacity of up to 30%, costing Rs. 400 crore. It is a 50:50 joint venture between Millennium Spire and A. N. Buildwell, a company with over 25 years of experience in real estate development. The project would be located in the emerging IT hotspot, IMT Manesar along the Delhi-Jaipur highway.

Ashish Bhalla, Managing Director, Millennium Spire said Spire Edge offered a never before commercial advantage bringing better sense and viability to any office project. The uniqueness of the project is the design and infrastructural superiority.

MSL Will Invest 200 Million Dollar In Indian Realty

Fri, 29 Aug 2008 08:16:13 +0000

Singapore-based private equity firm, Millennium Spire Ltd-MSL announced investment of $200 million in India’s realty sector in next one year.
MSL Managing Director, Ashish Bhalla reportedly said that the company would invest in real estate projects in the national capital region and Coimbatore in mix use complexes, IT parks, residential and commercial areas.
The company also announced the launch of Spire Edge, an IT Park in Manesar near the national capital. Spire Edge is a 50:50 joint venture between MSL and A N Buildwell and the project is expected completion in next three years. Bhalla said that the company would invest $20 million in Spire Edge project in which, money might be raised from overseas apart from promoters’ investments, said the report.
Bhalla also said that the company foresees an investment of $1 billion investment in the next four years in the real estate sector and would build university-based townships. He further added that the company is in talks with various state governments as it wants to set up projects in public-private-partnership mode including setting up of university based township projects, added the report.