Russian company plans real estate project at Gurgaon
Sistema, Russias largest private sector consumer services company is planning to develop a mixed-use real estate project at Gurgaon in the National Capital Region. The project, in partnership with the Shyam Group will be developed on a 22 acre area located on the national highway that passes through Gurgaon, with an investment of $200 million (Rs 800 crore).
The proposed project is likely to start by end 2008 or beginning of 2009. Construction will take place on 16 acres and the remaining six acre will be held free. Land will be provided by the Shyam Group for the project. The project will have commercial office space, some residential properties along with a hotel. The project is likely to be ready by 2010.
Source : hospitalitybizindia.com