Japanese co affiliation with Singapore's Developer Group

Bangalore : Japanese realty company, Tama Home Co Ltd, has formed an association with Singapore headquartered Developer Group on Wednesday to develop Rs 6000 crore worth 12-18 realty projects over the next five years. In fact; this is the first Japanese entry in the history of Indian realty market.

Realty Co Tama Home listed on the Tokyo Stock Exchange builds 10,000 homes in a year with a yearly sale of Rs 10,000.  Although, it engaged into the Indian realty market with the partnership of Singapore based Developer Group, a 100 percent FDI Company.  Developer Group is supported by Japanese investors but managed by Indian professionals.  Mainly their eyeing is on building houses, even though looking possibility to develop other industrial projects including hospitality projects and smart cities. The project’s cost will be funded partially through domestic debt and Tama home.

The two associates conjointly will develop three housing projects of 3,500 housing units, including two township projects in Ludhiana, Chennai and Vishakhapatnam. Two townships at Ludhiana and Vishakhapatnam will be launched in the next four month and by the middle of 2015 another housing project in Chennai will come up.

Tama Home President and Chief executive Yasuhiro Tamaki said that “India has incredible potential for growth in housing. We have found a trustworthy partner, Developer Group to bring our designs and construction technology into the Indian realty market. We want to repeat the Suzuki story in India”.

To Indian Realty market, Japanese Co will bring earthquake proof technology where the verdict was taken after the PM Modi’s visit to Japan, he replied “we have been planning to enter India market since before the visit, but the things was expedited after Prime Minister’s visit to Japan in August.” “We decided to enter, since India was the only country left with tremendous potential for growth in Asia market to develop our business”, he added.

To develop the project’s Developer Group is actively buying land and partnering with landowners. It will subcontract the construction activities to local contractors. Japanese Company entry into India comes a week after the purchase of a major stake in Snap deal by Japanese telecom group Soft Bank for USD 627 million.

Developer Group, chief executive David Rebello said “Being together we will develop about 12-18 residential projects over the next five years at a cost of Rs 6000 crore, mainly our focus is on housing segment but we will do other projects as well” where many Japanese companies are already present in India across automobile sector.

newly launched residential projects in bangalore