Welcome to your homes made in China !!!

Well almost true, only thing is the homes will not be made in China But made in India in association with a Chinese company who is one of the largest real estate developer & business house in China.

The Reliance Group helmed by Anil Ambani has entered into an agreement with the Wanda Group from China to execute real estate projects in India including integrated townships, commercial real estate, residential buildings, hotels, malls, etc.

Apparently this is one of the first instances where a Chinese company is entering into a Joint Venture to develop real estate in India.

Reliance Group would be responsible mainly for bringing in the land parcels for development wherein the Wanda Group would bring their development expertise to the partnership table. The Wanda Group has developed around thirty eight 5-star hotels and has had the experience of delivering 130 million square feet properties spread over sixty six integrated projects around fifty Chinese cities.

Both these business giants would be focusing their immediate attention to Reliance’s properties in Navi Mumbai & Hyderabad including the 135-acre Dhirubhai Ambani Knowledge City having a development potential of 10 million sq ft after necessary approvals.