Emaar-MGF ink JV dealThe Indian Express
Emaar - MGF Land has entered into a 50:50 joint venture (JV) with Leighton Asia Southern, a part of Leighton Group, a large Australian project development and contracting group with revenue of over $8 billion. The new JV, Leighton Construction India, will begin operation with an investment corpus of $150 million. The joint venture hopes to generate revenue of $2.5 billion and create employment opportunities for 1 lakh people over the next five years.
Hilton expands in India as demand growsMint
Hilton Hotels announced that it will invest as much as $143 million (Rs 586 crore) over the next seven years in a joint venture with New Delhi-based DLF Ltd, part of giant Indian realty firm DLF Group, to help meet India’s surging demand for hotel and hospitality space. The venture, DLF-Hilton Hotels, is 26 percent owned by Hilton; the remainder is owned by DLF. It plans to develop 75 hotels and already has begun 10 projects in different parts of the country, including Bhubaneshwar, Kolkata, New Delhi, the technology hubs of Hyderabad and Bangalore and tourist hot spots such as Goa and Mysore.
Deyaar, Ansal in tie up
UAE based Deyaar has formed a joint venture with Ansal API to develop mega townships in India which will include residential, commercial, institutional and industrial properties. Ansal API will have majority stake of 60 percent. Established in 2001, Deyaar is a wholly owned subsidiary of the Dubai Islamic Bank. The Deyaar Development PSC currently manages 16000 commercial and residential properties.