New Entrants in Indian Real Estate

Bangalore’s Real Estate Bank International (REBI) has ambitious plans to reach out to overseas markets with an investment of Rs. 250 million.

Offices in Sri Lanka, US, UAE, Singapore, Malaysia and Australia will enable
real estate services to reach out to non-resident Indians, while REBI’s domestic network will be expanded to 3000 franchises over the next three years.

Profesionally managed, REBI offers brokerage, financial and relocation services
to sellers and purchasers of property.

Through its expansion programme, REBI
hopes to achieve a target of Rs.1.5 billion to Rs.2 billion in its first
year.
Pearl Global is also venturing into real estate, as it ties up with Ansal
Properties to develop 9.26 acres of commercial land in Gurgaon.

Earlier this month, the Bhoruka Group from Bangalore announced its intention
to diversify from its existing power generation business to develop a
premium residential project in south Mumbai.

The defunct Mukesh Textile
Mill property, covering 10 acres will be the site of the new project.
The company will also construct an IT Park on 34 acres in Whitefield, Bangalore.