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  #1  
Old Posted Mar 30, 2007, 12:06 AM
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India Megaproject Overview: Four Major Cities, 2 'Manhattans' to Appear on Indian Map

Four cities will appear on the Indian map
Quote:
Foreign funds will pump in Rs2 lakh crore to create the ultra-chic cities

DNA India Epaper
27 Mar, 2007

On Republic Day this year, Macquarie Bank, Australia’s largest securities firm, announced that it will invest $25 billion along with three partners to create an ultramodern integrated township on 65,000 acres in Andhra Pradesh, just 170km off Bangalore.

Four weeks later, Tishman Speyer Properties LP, which owns New York’s famous Rockefeller Centre and Frankfurt’s MesseTurm, said it, along with ICICI Bank and Nagarjuna Construction Co, will build a $2 billion residential and commercial township for 30,000 people, spread over 400 acres near Hyderabad.

On Monday, or exactly another four weeks after the Tishman announcement, Al Nakheel LLC, an international property development firm owned by the Dubai government said it will, along with DLF Ltd, build two ‘Manhattans’ near Mumbai and Gurgaon, spread over 20,000 acres each.

Each city will cost about $10 billion or Rs43,300 crore to construct, with the first phase, expected to be completed by 2010, seeing the partners investing $5 billion apiece.

In all, $47 billion or Rs203,000 crore of private money will be invested over the next couple of years to create four ultra modern cities from ground up.

The cities near Mumbai and Gurgaon will be three times as large as New York’s Manhattan Island, DLF said.


All the four cities will be world-class and self-contained, with wide, international-quality roads, telecom networks, educational institutions, industrial clusters, hospitals and amusement parks.


Cities near Mumbai, Delhi
Located on the outskirts of Mumbai and in Gurgaon, Haryana, spread across 20,000 acres each Investment of $10 billion in the first phase
Investor: Limitless LLC, a Dubai government firm, and DLF Ltd

Science city near Bangalore
About 400km from Hyderabad and 150km from Bangalore Investment of $25 bn, spread across 65,000 acres, over 10 years
Investors: Macquarie Bank, Australia, and Singapore’s Jurong Corp and Semb Corp

Mini city near Hyderabad
A 400 acre commercial and residential development on the outskirts of Charminar city Will house 30,000 people, shops, and cultural amenities
Investors: Tishman Speyer, ICICI Bank, Nagarjuna Construction Growth to boost need for homes Foreign funds are moving into real estate because the 9-10 per cent economic growth foreseen will explode demand for homes, commercial space.

House prices in Mumbai, Delhi, and Bangalore have more than tripled since 2004
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  #2  
Old Posted Mar 30, 2007, 12:37 AM
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For reference sake, here's a rundown list of Indian Megaprojects in the offing, and their links to SkyscraperCity India Forum threads:

Mumbai Megaprojects -- There are several, none with dedicated threads of their own:
1. Mill Land Redevelopment
2. Dharavi Slum Redevelopment and CBD
3. Reliance Mahamumbai SEZ CBD
4. DLF/Limitless Megaproject -- "Mumbai's Manhattan"

Please see the latest "Mumbai Update" thread for the latest details on the above projects. (Current thread iteration: Mumbai Update VI - project news from Mumbai)

-----==--=--==-----


Delhi, National Capital Region Megaprojects
1. Delhi 2021 Redevelopment Plan
2. DLF/Limitless Megaproject -- "Delhi's Manhattan"
3. Noida CBD including Noida Tower (750m a World's Tallest Building). Please see the latest NCR (National Capital Region) Developments thread for more details (Current thread iteration: NCR (National Capital Region) developments III)
4. Gurgaon Golden Triangle City Centre (GTCC) CBD including four 140 storey WTB

-----==--=--==-----

Hyderabad Megaprojects
1. Hyderabad Manchirevula Future CBD
2. Lanco Hills Megaproject
3. Charminar City (See Manchirevula Future CBD thread)

-----==--=--==-----


Bangalore Megaprojects
1. Odyssey Science City, Anantapur

-----==--=--==-----
Cheers!
Jai
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  #3  
Old Posted Mar 31, 2007, 8:19 PM
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Location of DLF/Nakheel projects

Thanx to Suncity for posting this at SSC.

This gives a better location for the DLF/Nakheel Mumbai and Delhi projects. The one in Mumbai is apparently going to be on the Mumbai-Pune expressway, perhaps along one of the lakes there. The one in Delhi would be in node of Gurgaon. They are each to be 20,000 acres. (For comparison, Manhattan is about 15,000 acres.)

DLF, Al Nakheel to invest $10bn in Mumbai, Delhi
Quote:
BS Reporter / New Delhi March 26, 2007
DLF and Nakheel, a large property developer from the UAE, today signed a 50:50 joint venture for two integrated townships spread across 40,000 acres in India with an initial investment of $10 billion.

Set up under the auspices of the Dubai government, Nakheel is run as a private commercial enterprise and is controlled by Dubai World. Nakheel is currently developing 17 major projects worth more than $30 billion, and will make its foray into India with DLF. Its portfolio includes several land reclamation projects in Dubai such as The Palms and the Dubai Waterfront.

A source close to the development had earlier said that the joint venture would develop 20,000 acres each in Gurgaon (beyond Manesar and in conformity with the draft Master Plan) and in Maharashtra between Mumbai and Pune. Construction of the projects is expected to begin this year and the first phase of the development is targeted to finish in three years.

The cost of the land would comprise nearly 40% of the $10 billion investment. Roughly 70% of the land has been acquired by DLF.

Interestingly, Nakheel’s main competitor in residential development in Dubai is Emaar Properties. Emaar functions in India as a 50:50 joint venture partner in Emaar-MGF. This joint venture competes with DLF in Gurgaon, the latter’s main market in India.

While DLF is awaiting the green light from the Securities & Exchange Board of India for its Rs 13,600 crore initial public offering, the company has, in the last one year, announced a slew of joint ventures. It recently unveiled its plans for a foray into the life insurance segment with a 74:26 joint venture with Prudential Financial Inc of the United States. The company’s other joint venture partners include Hilton Hotels, Feedback Ventures and the United Kingdom-based infrastructure company Laing O’Rourke.
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  #4  
Old Posted Mar 31, 2007, 8:20 PM
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Odyssey Science City only one of several megaprojects of Jurong/Springfield Land Corp

From the official press release from Springfield Land Development Corp.'s website, theysay Science City is the "first of several projects several projects with Jurong in India which have now come to fruition."

I guess that means there are even more megacities in the lineup!

Springfield Land Corporation Signs New City Deal in India
Quote:
...

“Springfield Land Corporation has been actively looking at the growth of India for approximately two years; starting with the city of Bangalore because of its recognition as a high growth IT centre, “ said Mr Sharpless.

“In the early days we were very interested in seeing whether we could attract IT companies into the Greater Springfield project and also learn from some of the major IT parks that have been developed in Bangalore. Springfield Land Corporation was subsequently invited by Jurong to partner with them in large scale projects in India. This project represents the first of several projects which have now come to fruition.

...
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  #5  
Old Posted Apr 1, 2007, 3:05 AM
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  #6  
Old Posted Apr 18, 2007, 7:45 AM
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‘Manhattans’ near Mumbai & Delhi
Quote:
Thursday, 04.12.2007, 03:48am (GMT-7)

NEW DELHI: Private money amounting to $47 billion or Rs 203,000 crore is being invested over the next couple of years to create four ultra modern cities in India from ground up. According to DLF, the cities near Mumbai and Gurgaon will be three times as large as New York’s Manhattan Island. The other two cities will be near Bangalore and Hyderabad.

To showcase the India potential in real estate, KR Capital Management LLC (USA) and its company owned subsidiary ‘KR RealTech Consultants Pvt. Ltd. (India) have organized ‘Horizon - India Real Estate Expo 2007’, in USA from April 14 to 22.

Horizon 2007 is the platform where one can meet clients who are searching for premium residential and commercial properties in India, and prospective foreign institutional investors who are on the look out for investment opportunities in real estate in India. As one of the most diverse India Real Estate Expos ever, Horizon presents premier projects from the most prominent real estate developers from all major Indian cities such as: Delhi & NCR, Chennai, Kolkata, Mumbai, Cochin, Jaipur, Bangalore, Hyderabad, Chandigarh, Goa, Lucknow and Pune.

Earlier this year, Macquarie Bank, Australia’s largest securities firm, had announced that it will invest $25 billion along with three partners to create an ultramodern integrated township on 65,000 acres in Andhra Pradesh, just 170km off Bangalore. Also, Tishman Speyer Properties LP, which owns New York’s famous Rockefeller Centre and Frankfurt’s MesseTurm, said it, along with ICICI Bank and Nagarjuna Construction Co, will build a $2 billion residential and commercial township for 30,000 people, spread over 400 acres near Hyderabad.

The latest announcement has come in from Al Nakheel LLC, an international property development firm owned by the Dubai government, which said it will, along with DLF Ltd, build two ‘Manhattans’ near Mumbai and Gurgaon, spread over 20,000 acres each. Each city will cost about $10 billion or Rs43,300 crore to construct, with the first phase, expected to be completed by 2010, seeing the partners investing $5 billion apiece.

All the four cities will be world-class and self-contained, with wide, international-quality roads, telecom networks, educational institutions, industrial clusters, hospitals and amusement parks. Dubai based retail group Landmark, known for its chains like lifestyle and Home Centre will be pumping in $500 million in India over the next three years to expand its retail presence. A report said that the group now plans to enter the hospitality business.

The top management of the Dubai-based landmark group is in India to finalize its expansion strategy. The group currently has 1 million square feet of retail space in India with stores like Lifestyle, Max and Home center, and aims to have four million square feet by 2010. Foreign funds are moving into real estate because the 9-10 per cent economic growth foreseen will explode demand for homes, commercial space. House prices in Mumbai, Delhi, and Bangalore have more than tripled since 2004.

India Post News Service
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