You are here: Home » Companies » News
Business Standard

Puravankara ties up with Keppel Land for township project

Our Regional Bureau  |  Bangalore 

Puravankara Projects Limited has entered into a collaborative agreement to form a joint venture with Keppel Land Limited, the property arm of the 54-per cent owned Korean government-linked conglomerate, Keppel Corporation Limited, to develop an integrated township worth over Rs 400 crore.
The joint venture with Puravankara Projects Limited has been granted the in-principle approval by the Foreign Investment Promotion Board (FIPB).
The proposed project will be a high-rise condominium development comprising more than 2,000 apartments with comprehensive recreational facilities, spread over 24 acres, located at JP Nagar in south of Bangalore city.
Ravi Puravankara, chairman of Puravankara Projects Limited, said: "Bangalore city which has for long been hailed as the Silicon Valley of India possesses one of the fastest growing populations in the country, thereby bringing about a need for quality residential and township developments. Our endeavor, through such joint ventures is to bring in international quality of construction to the people in our country and provide them an international living experience."
Kevin Wong, managing director of Keppel Land, said: "Our first foray into India is timely and strategic with the country's economy, now the fourth largest in the world, taking off, and with growing affluence amongst its huge population. We hope to leverage our association with the Puravankara Group to establish our presence as a premium regional property developer in India."
The joint venture has also plans to explore other key Indian markets such as Mumbai, Delhi, Chennai, Kochi, Hyderabad and Kolkata for development opportunities. The first phase of the proposed project in Bangalore is expected to be launched in early 2006.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, July 30 2004. 00:00 IST
RECOMMENDED FOR YOU
.