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Old Posted Mar 31, 2007, 8:19 PM
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Jai Jai is offline
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Join Date: May 2004
Location: Haleiwa, Oahu, HI :. Waianae, Oahu, HI :. DETROIT, MI
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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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