Like other top countries evincing interest in investing in India, the Japanese company, Tama Homes, is exploring the possibility of entering the mass housing sector with Developer Group India Private Limited, its joint venture partner.
It is one of the major foreign companies coming into real estate, particularly in the residential sector, Joint Managing Director of Developer Group B. Manohar said on Wednesday.
“We are in discussions with two or three State Governments on entering into a partnership for their housing programmes,” Mr Manohar said. The Japanese group that builds 10,000 houses every year intended to bring its expertise in building mass houses to India.
Singapore-based Developer Group, the first Japanese investor-promoted real estate company in India, and Tama Homes announced their joint venture in November last.
Over the next five to six years, it had intended to bring Rs.5,000 crore to Rs.6,000 crore in residential homes, construction and hospitality sectors through foreign direct investment (FDI), he said at a press conference.
The Developer Group announced its project in the city on Wednesday in the presence of Toru Takeuchi and Ando Takeshi, both based in SingaporeThe group was keen on making Visakhapanam the hub of its activities, Mr. Manohar said. Executive Director V V Satyamurthy was present.
