DLF-NAKHEEL IN TOWNSHIP VENTURE

Real estate developers DLF and UAE’s Nakheel will build two integrated townships in India for an estimated investment of about $10 bn. The two companies are expected to form a 50:50 joint venture company for the same. The two proposed townships will be built over a total of 40,000 cares in Gurgaon and between Mumbai and Pune. The cost of land will comprise about 40% of the land. DLF is expected to raise the fund through debt, equity and internal accruals. The JV may also explore the possibility of creating a realty fund similar to the $1.5 billion DLFLaing O’Rourke Infrastructure Fund.

Courtesy: EconomicTimes
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