Emaar Properties not to sell stake in Indian entity
Dubai-based Emaar Properties has decided not to sell any stake in its Indian entity. Instead, the company is considering forming joint ventures with large Indian business houses, including the Adani Group. Emaar Properties entered the Indian real estate market in 2005 through a joint venture with MGF Development,investing around Rs 8,500 crore. The demerger of this joint venture was decided in April 2016. Emaar India has a significant portfolio of residential and commercial spaces across several Indian cities.
Lodha Developers sells 24-acre land in Mumbai
Lodha Developers sells 24-acre land in Mumbai to STT Global Data Centres for Rs 500 cr Lodha Developers has sold over 24 acres of land in the Mumbai region to Singapore-based STT Global Data Centres. The land, measuring 24.34 acres, is located at Palava and was sold for a total consideration of about Rs 499 crore. This includes the sale of 1.74 acres by Lodha Developers and 22.6 acres by its subsidiary, Palava Induslogic 4 Pvt Ltd. This land deal follows a recent Memorandum of Understanding (MoU) signed by Lodha Developers with the Maharashtra government to set up a green integrated data center park at Palava with a planned investment of Rs 30,000 crore. Vascon Engineers sets FY27 target of ₹4,000 cr EPC order book, ₹2,500 cr real estate projects.
Vascon Engineers has unveiled its growth roadmap
Pune-based Vascon Engineers Ltd, a leading EPC and real estate company, has unveiled its growth roadmap, aiming for an EPC order book of ₹4,000 crore and real estate projects worth ₹2,500 crore by FY27. Overall, the company’s near-term real estate pipeline stands at 1.94 million sq ft with a sales value of Rs 2,360 crore. The company is currently executing projects across 13 cities, with its EPC business split 75:25 between government and private clients.The company is presently executing projects across 13 cities, with its EPC business split 75:25 between government and private clients. Major contracts include the construction of a medical college at Suphal, Bihar (₹606 crore), Capgemini’s IT Park in Chennai (₹416 crore), and the Vedanta Township project (₹260 crore)
Taj May Lose Iconic Pierre Hotel
The Indian Hotels Company Ltd. (IHCL), which operates the Taj brand, may exit The Pierre Hotel in New York City. The hotel, which Taj acquired in 2005, has attracted interest from Saudi billionaire Essam Khashoggi and the Sultan of Brunei, who are considering a purchase for $2 billion. If the deal is finalized, it would leave Taj with only one property in the US, the Taj Campton Place in San Francisco. The hotel has 189 keys and also contains luxury apartments. The parent company of the hotels in New York and San Francisco is United Overseas Holding (UOH), a subsidiary of IHCL.
Sterling Opens Second Resort in Kerala
Holiday Resorts has announced the opening of its second property in Guruvayur, Kerala. The new resort, named Sterling Darshan Guruvayur, is located near the Sri Krishna Temple. The hotel, owned by Sterling. Holiday Resorts, has 30 keys (rooms) and offers well-appointed rooms, an on-site restaurant, and a Kalyan Mandapam that can accommodate up to 300 guests. The addition makes Sterling the brand with the largest number of keys in Guruvayur.
IHCL Signs Agreement for Tree of Life Resort
The Indian Hotels Company (IHCL) has signed an agreement with owner Karthik Annamalai for a new Tree of Life resort in Pondicherry. The 18-key property is a brownfield project that will involve the rejuvenation and restoration of an existing heritage-listed building in the French colonial quarter of White Town. The resort will feature an all-day dining restaurant, a swimming pool, and a spa. This signing reinforces IHCL’s commitment to curating boutique experiences and strengthens its presence in the region.
