News this week: According to Indian media reports, Gurgaon-based
Indian real estate development company, M3M
Group, and Guangzhou real
estate firm, Xinji Group, have signed an MoU to build a US$5 billion convention and exhibition
centre in New Delhi.
A signing ceremony
took place in Guangzhou detailing plans which included land resources provided by
M3M and its Chinese counterpart to provide the expertise to develop the venue.
A tentative timeframe for the project is expected at round five years which
will include other commercial real estate and hotels.
Pankaj Bansal, director
of M3M Group, was quoted saying, “We plan to build a large scale exposition
centre of the kind that India does not yet have. In Delhi, all we have now is
Pragati Maidan for exhibitions, and there is a real void when you talk about
world class, modern exhibition centres as you have in China like the world
renowned Canton Fair in Guangzhou. We hope Gurgaon will have that.”
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