Ansal API Sign New Venture with Deyaar of Dubai
The real estate arm of the Dubai Islamic Bank, Deyaar, has signed a joint venture with Ansal API to construct a township project in India.
As per the memorandum of understanding signed last week, a mixed
use township incorporating residential, commercial and industrial
spaces would be built.
The coming together of the two corporations will combine the
international expertise of Deyaar with the rich knowledge of
the local market of the Ansals.
Large corporates of the UAE have shown an eagerness to invest
in real estate in India – Nakheel’s tie up with Parsvnath and DLF, and Emaar’s joint venture with MGF have been major commitments in recent months.
On the other hand, Indian builders like DLF are also exploring
real estate opportunities in the UAE.
Deyaar, with its expertise in design, execution and financial
strength, has been scouting the world market for investment in
real estate projects, and the mood is upbeat about the venture
with Ansal API.
The latter has held a rock-solid reputation for
the last 40 years, holding assets over USD 1 billion.
Ansal API
has covered the whole gamut of construction projects in India
for the residential, commercial, retail, hospitality and infrastructure
segments, possessing the largest land bank of over 5000 acres.
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