Friday, November 14, 2014

Gurgaon plans US$5 bil venue through Indo-Sino partnership

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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