Impact Projects and SARE Announce Joint Venture for Luxury Townships in Amritsar
Ludhiana-based real estate developer Impact Projects Pvt Ltd and equity fund company South Asian Real Estate (SARE) have entered into a joint venture to develop two luxury townships in Amritsar. The agreement was finalized on June 30th. This collaboration marks a significant step for both companies in the burgeoning Amritsar real estate market. SARE, based in the Isle of Man, has a history of investing in Indian housing projects through joint ventures with local developers, demonstrating their commitment to and expertise in the Indian real estate landscape.
Investment and Development Plan
The two projects represent a substantial investment of ₹18 billion, as announced by Impact Projects.
Leadership and Expertise
Impact Projects is spearheaded by Harpal Singh, the non-executive chairman of Ranbaxy Laboratories Ltd, bringing considerable business acumen and leadership to the project. This partnership combines SARE's financial strength and international experience with Impact Projects' local market knowledge, promising a successful venture that will deliver high-quality luxury residential options in Amritsar.