Real Estate Update

Realty cos withdraw overseas plans

February 2012
Real estate companies, which started venturing overseas around 2006-07, are reviewing their global plans. With the slump in international realty markets, many domestic companies are either withdrawing from weak markets or putting their global pla­ns on hold. Raheja Developers, for instance, has shelved plans to enter the Colombo and Mauritius markets, while Hiranandani Group, which has a major presence in Dubai, has changed its strategy. It stopped launching new projects and is focussing on completing existing projects for other developers on a contractual basis. Omaxe Ltd has already exited the Middle Eastern city.

Contact: Raheja Developers.
Tel: 011-4061 1111.
Fax: 011-4061 1110.