Released on: July 10, 2008, 11:38 pm

Press Release Author: Veena

Industry: Real Estate

Press Release Summary: PBEL Property Development (India) Pvt Ltd has announced the
launch of "PBEL CITY" an environmental coexistent project at APPA junction, on outer
ring road of the city.

Press Release Body: PBEL Property Development (India) Pvt Ltd, (a joint venture of
global magnate Property and Building Corporation (PBC), Electra Real estate (ERE)
and Indian Developer, INCOR infrastructure), has announced the launch of "PBEL CITY"
an environmental coexistent project at APPA junction, on outer ring road of the
city. Within days of the announcement PBEL has booked unexpected numbers of
dwellings, buyers being enthused by the competitive pricing and amenities, including
the high focus on environment.

PBEL City is bringing in new technology with world class amenities like adequate
traffic management where all drive ways are under ground and facilitating direct
access to cellar parking. The whole project is designed with earthquake resistant
technology. Every home comes with a modular kitchens & bedroom wardrobes. It has a
facility of sports courts, state of the art club house and baby care to conference
facilities, water treatment plants and much more.

Mr. Anand Reddy, Executive Director, PBEL, said, "We are offering this project to
early birds at a very affordable price. It is literally a steal - nobody at present
can offer this with our range of amenities. With professionals at helm of the
activity this project comes with world class technology and facilities. I have no
hesitation in stating that this is a perfect opportunity for many to invest in their
dream home."

The parent companies of PBEL have successfully launched projects across the globe
including Las Vegas, New York, Toronto, London and Zurich. PBEL City itself is
designed by a world renowned architects 'YASHAR' an organization which basically
works around environmentally and green architecture.

ABOUT PBEL

PBEL Property Development (India) Pvt. Ltd. is the newest enterprise to enter the
real estate business in India. It is a joint venture of Property and Building
Corporation (PBC), Electra Real Estate (ERE) and Indian developer INCOR
Infrastructure. Over the last couple of months PBEL has purchased property worth Rs
1000 crore plus across various cities in India.

Presently focusing on Chennai, Hyderabad and Mysore, PBEL will soon be developing
these properties into world class living and commercial space.

PBC is one of the leading real estate companies established in 1961. The company is
rated AA by Standard & Poor. PBC has extensive experience in developing and
constructing residential neighborhoods and commercial properties around the world.
PBC a subsidiary of the IDB Group, is active in the realty space in three
continents: North America, Europe and Asia and is one of the largest business
conglomerate with global assets in excess of $27 billion.

Electra Real Estate Ltd. is one of the leading real estate companies in the world.
The company was established in 1994 and has been operating overseas since 1997, and
the major growth in the company's activities has taken place over the past three
years.

INCOR is founded by US returned NRI's in response to the need for a Professional
Real Estate company, to meet the growing demand of quality housing and commercial
space across India. INCOR has projects in hand to construct 1.3 million sq. ft,
which includes a residential neighborhood, a shopping mall and an office center.
INCOR holds a land bank of 218,592 sqm to be developed for mixed use across various
locations in Hyderabad.


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Contact Details: Veena,
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#96, 2nd Main Road, MLA Layout,
R T Nagar, Bangalore -560 032
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