Keppel Land will get a 49% stake in the JV firm for $78.2m.
Keppel Land has entered into a joint venture (JV) with Indian programmer, Rustomjee Group, to construct the 51.4-hectare Urbania incorporated township found in the Thane district of Mumbai Metropolitan, according to a release.
Get more info about the The Avenir contractor here.
The Urbania township in Mumbai has set 2,700 residential units since its launching in 2006.
Upon finishing the purchase, Keppel Land and Rustomjee Group will create an additional 7,400 houses and retail components having a total gross floor space of approximately 5 million sqft.
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