India's leading real Estate company Tata Housing Development Company (THDC) has announced plans to foray into international markets. It develop premium apartments and luxury villas for the world’s multimillionaires as well as mixed-use projects in Sri Lanka and the Maldives. To pursue these initiatives the company has set up a team headed by Mr. Sandeep Ahuja, Vice President ( Business Development).
Mr. Brotin Banerjee, MD and CEO, Tata Housing Development Company Said “ The peace returning to the island nation Sri Lanka , real estate will be a big growth story there .We are in the final stages of two million sq ft each in Colombo. We are trying to minimise the extent of loans by trying to sell apartments in advance. Since the project is in a prominent area in the capital Male, which is facing acute housing shortage, so we will expect the sale is very well”
THDC recenty announced that it has entered into a 65:35 Joint Venture (JV) in the Maldives to develop luxury villas and premium apartments under the brand ‘La Grande’. Named Apex Realty, the JV has as minority partner Chennai-based SG18 Realty that has executed some projects in theSri Lanka. The total investment will be around Rs 850-900 crore over a period of 2-3 years.
The Maldives government has allocated 4 plots on a long-term lease of 50 years to Apex Realty to develop residential apartments and retail space in Malé. About 80% of the apartments will be handed over to the government at cost, while the balance may be sold at open market rates. Apex also gets commercial space measuring 1.5 lakh sq ft to be developed as office and retail space.
Mr. Brotin Banerjee, MD and CEO, Tata Housing Development Company Said “ The peace returning to the island nation Sri Lanka , real estate will be a big growth story there .We are in the final stages of two million sq ft each in Colombo. We are trying to minimise the extent of loans by trying to sell apartments in advance. Since the project is in a prominent area in the capital Male, which is facing acute housing shortage, so we will expect the sale is very well”
THDC recenty announced that it has entered into a 65:35 Joint Venture (JV) in the Maldives to develop luxury villas and premium apartments under the brand ‘La Grande’. Named Apex Realty, the JV has as minority partner Chennai-based SG18 Realty that has executed some projects in theSri Lanka. The total investment will be around Rs 850-900 crore over a period of 2-3 years.
The Maldives government has allocated 4 plots on a long-term lease of 50 years to Apex Realty to develop residential apartments and retail space in Malé. About 80% of the apartments will be handed over to the government at cost, while the balance may be sold at open market rates. Apex also gets commercial space measuring 1.5 lakh sq ft to be developed as office and retail space.
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