| 20 Nov 2007 |
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Al Qudra eyes Indian real estate market
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Abu Dhabi: Al Qudra HoldingAl Qudra Holding
, a major investment company based in Abu Dhabi, plans to penetrate the Indian real estate market as part of its business growth strategy, chairman Salah Salem Bin Omeir Al Shamsi said on Monday.
"We are interested in working in India," Al Shamsi told Gulf News on the sidelines of the MEED conference here.
He said Al QudraAl Qudra is still working on its strategy for India and would disclose its plans at a later date. He declined to specify who Al QudraAl Qudra would take as a partner to carry out the India project and which cities are being targeted.
Al Shamsi said Al QudraAl Qudra
has so far sold two properties in Abu Dhabi. In addition, he said, two new real estate projects in Abu Dhabi were launched by Al QudraAl Qudra at the recent Cityscape in Dubai.Al Shamsi said the first of Al QudraAl Qudra's two properties sold in Abu Dhabi would be ready for occupation in 2009.
He said overseas, Al QudraAl Qudra
is currently developing real estate projects in Yemen, Syria, Morocco, Algeria and Senegal.Asked when Al QudraAl Qudra will conduct an initial public offering, Al Shamsi said: "We are working with the government bodies to finalise our IPO plan." He declined to elaborate further.
By Himendra Mohan Kumar
© Gulf News 2007. All rights reserved.
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Community Comments (1)
Its good to see that so many big giants are eying the Indian Real Estate Market and are making strategies day in and day out to make most out of the booming Indian Real Estate Market...The way it has been going can anyone predict the future odis market........how people would be smart enough to extract maximum benefit out of this flow.....and how many will repent for entering and making a fool of themselves.........For more information on Indian Real Estate Market visit realtydigest.blogspot.com
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