Ascott group entered Indian real estate and extending to Hyderabad
Released on: April 28, 2008, 1:24 am
Press Release Author: varma
Industry: Real Estate
Press Release Summary: The Ascott Group (Ascott) has acquired its first serviced residence with 220 units in Ahmedabad. The investment is a joint venture with The Rattha Group (Rattha), a company in the field of exports, infrastructure development and leasing.
Press Release Body: The Ascott Group (Ascott) has acquired its first serviced residence with 220 units in Ahmedabad. The investment is a joint venture with The Rattha Group (Rattha), a company in the field of exports, infrastructure development and leasing. Ascott has invested INR 257.2 million (approximately S$9.1 million) for the project and will take a 40% stake in the joint venture, with Rattha holding the remaining. With the latest addition, Ascott\'s portfolio in India grows to 1,398 units across six properties which are currently under development.Ms Jennie Chua, Ascott\'s President & CEO said:
\"Citadines Ahmedabad Parimal Garden marks our entry into West India and extends our footprint beyond the southern cities of Bangalore, Chennai and Hyderabad.\"Citadines Ahmedabad Parimal Garden is slated to open in the first half of 2011.Besides Citadines Ahmedabad Parimal Garden, Ascott\'s other serviced residences in India are Somerset Whitefield in Bangalore; Somerset Greenways, Citadines Boulevard and Citadines OMR Gateway in Chennai; and Citadines Hitec City in Hyderabad........ For Latest Real Estate News: http://www.maaproperties.com/Pages/ModuleContent.aspx?Module=News
At Maa Properties, we have in-depth knowledge of property markets, extensive experience, specialized skills and resources necessary to provide an entire range of reliable and responsive property management services. No matter how far away you are currently located, our online services enable you to take charge of things and efficiently handle all property-related transactions back home.
We would like to take the opportunity to welcome all the community members living world wide to our real estate portal.(NRI)
For More Information about Real Estate Hyderabad, India visit: http://www.maaproperties.com/