On Tuesday, Russian conglomerate Sistema announced its intention to invest between $100 million and $200 million in the development of hotels, offices, and residential complexes across major cities in India. This significant disclosure follows the company’s earlier commitment to inject $5 billion into the telecom sector within the country this year.
Sistema has also confirmed a partnership with the India Shyam Group, which recently sold a 51 percent stake in its telecom venture to Sistema. This collaboration is set to focus on the development of a vast 22-acre property located in Gurgaon, on the outskirts of Delhi. Notably, this joint venture marks Sistema's inaugural foray into the construction and real estate market outside of its traditional territories in Russia and Ukraine.