Reliance - ADA Group Limited offers communications, financial services, power, infrastructure, healthcare, and entertainment services. It offers information and communications, and healthcare services; and telecom services, such as mobile and fixed line telephony, broadband, long distance, data, and voice for enterprises, carriers, and retail customers worldwide. The company also provides financial services, such as asset management and mutual funds; life and general insurance; commercial finance; equities and commodities broking; investment banking; wealth management services; distribution of financial products; exchanges; private equity; asset reconstruction; and proprietary investments an...
Dhirubhai Ambani Knowledge City
Reliance – Anil Dhirubhai Ambani Group and Dalian Wanda Group Corporation Ltd. Announce to Set Up a Joint Venture
Dec 13 12
Reliance – Anil Dhirubhai Ambani Group and Dalian Wanda Group Corporation Ltd. announced the signing of a MoU to set up a Joint Venture (JV) for strategic long term partnership between the two groups, covering several areas of mutual interest. The first priority of the proposed JV will be to develop integrated township projects in India, including but not limited to commercial buildings and residential condos /apartments, hotels, retail space, etc. Wanda Group is the real estate developer in the world, and has built over 130 million sq. ft. property in 66 integrated projects across 50 cities in China. Wanda Group's demonstrated track record and project expertise will be utilized initially in the following 2 projects: The Dhirubhai Ambani Knowledge City complex in Navi Mumbai owned by Reliance Communications Ltd., covering an area of approx. 135 acres, and having the potential for development of over 10 million sq. ft., subject to necessary approvals. The new Business District project in Hyderabad, covering an area of 80 acres, owned by Reliance Infrastructure Ltd., having unlimited FSI for development for commercial and residential purposes, hotels, etc., with plans to develop up to 10 million sq. ft area in a phased manner.