Tuesday, July 8, 2008

Akruti-City-plans-JV-with-Pacific-Alliance-Group

After having raised Rs 1,500 crore from private equity funds Citi Venture Capital International and AIG, the publicly listed Akruti City, Akruti City Limited (formerly known as Akruti Nirman Limited), is now planning to form a 50:50 joint venture (JV) with USA-based Pacific Alliance Group (PAG) - an entity involved in construction apart from residential and townships development.

Currently, Akruti City is developing three large-scale commercial projects in Andheri, Kanjurmarg and Bandra-Kurla Complex (BKC). Shah said, “By August, we will also launch 12 new real estate projects in Mumbai, Pune, Thane, Surat, Ahmedabad and Baroda
Financial Express

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