Real Estate

MMRDA’s Bandra Kurla Auction Finds No Bidder For Its 2 Plots

Indicating the deceleration in the real estate market, two of the five plots, Bandra Kurla Complex

Era Infra bags order worth Rs 86.5 crore

Era Infra Engineering Ltd has announced that the company has bagged a contract worth Rs 86.5 crore from M/s. Central Park Estates Pvt. Limited for the work of construction & development of Central Park — II at Sector 48, Sohna Road, Gurgaon.

The project is scheduled to be completed by March 2010.

New-Delhi headquartered, Era Infra operates as an integrated infrastructure construction company in India. It develops and constructs highways, railways, airports, power and industrial projects, institutions and universities, and residential and commercial complexes.

Mantri Developers inks pact with Apollo Hospital

BPTP grabs 95 acre land in Noida for Rs 5006 crore

Indiabulls Real Buys Majority Stake In DPD

Indiabulls Real EstateIndiabulls Real Estate (IBREL) has decided to buy majority stake in the London-listed property fund Dev Property Developers (DPD) to gain majority control over two of its valued properties in Mumbai.

IBREL has acquired more than 90% in Dev for about Rs 1,100 crore. The stake has been purchased from the three major shareowners of Dev Property, which includes Fidelity, Government of Singapore and HSBC.

Indiabulls Real Buys 100% Stake In Dev Prop

Indiabulls Real Estate (IBREL) has announced that its board had sanctioned its plan to acquire 100% stake in Dev Property Development in a 138- million-pound sterling (10.9 billion rupees) share-swap deal.

Dev, an entity listed on Alternate Investment Market of London Stock Exchange, is promoted by the Indian property developer and owns stakes in various Indiabulls’ projects in India.

Indiabulls Real Estate will issue its individual shares to Dev’s investors that comprise Farallon Capital, Fidelity, Govt of Singapore and Citigroup.

Dev Property concentrates on investment in commercial realty developments and Information Technology Enabled Services (ITES) and residential real estate developments in Tier 1 cities in India including Mumbai.