realty firm signs JV with Oman firm
Indo-Asian News Service
Dubai, Sep 16 (IANS) Indian real estate developer Amit Enterprises
said it has tied up with Oman's trading company to set up
a joint venture firm for development of various residential
and commercial projects in the Gulf nation.
The Pune-based firm has signed an agreement with Oman's Al
Tamman Trading Establishment to establish Khaleej Oman Real
Estate (KORE) Company to develop projects in Oman's main cities
of Muscat, Sohar and Salalah, the Oman Daily Observer reported.
"We have been analysing the Omani real estate market
for over an year and are bullish on the long-term prospects
here," Amit Enterprises Chairman Kishor Patel said.
He said KORE would launch its operations with a 40 million-Omani
riyal ($103.9 million) project at Ghala near Muscat.
Amit Enterprises' major projects in India are largely concentrated
in Pune, Mumbai, Nashik and Kalyan in Maharashtra.
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