Indian Investment in Singapore Real Estate Projected to Reach SGD 150 Million
On June 21st, Mr. Akshay Jain, CEO of Land Solutions (India), stated that Indian citizens are anticipated to invest one hundred and fifty million Singapore dollars (SGD) in Singapore's real estate market by the conclusion of the 2008-2009 fiscal year. Land Solutions (India) serves as the Indian counterpart of Far East Organization, a Singapore-based real estate developer.
Strong Sales of Premium Apartments Expected
Mr. Jain anticipates that fifty out of one thousand seven hundred premium apartments developed by Far East Organization will be purchased by Indian buyers by the end of the current fiscal year (2008-2009). The cost for each apartment will be close to one million SGD (equivalent to thirty-one million Indian rupees). He further elaborated, “Easy availability of housing loan, even up to 70% of property cost at a rate of 2.5% per annum is an additional advantage to the buyers who want to acquire property in Singapore.”
Land Solutions Plans Major SEZ in Hyderabad
The CEO also revealed the company's intention to establish a Special Economic Zone (SEZ) spanning an impressive two thousand seven hundred thirty-four acres within the next couple of years in Hyderabad. The project has an initial investment slated for an approximate sum costing ten thousand crore Indian rupees. This ambitious undertaking will be executed through a joint venture between Land Solutions (India) and a Dubai-based property development firm.