Page 73 - CO April 2017 Full Issue

TICKER TAPE mandate to manage the offering, they said, requesting anonymity. RMZ Corp. is expected to hold a couple more rounds of discussions before fnalizing their IPO bankers. The proposed REIT could see construction RMZ raise at least $300 million. RMZ is looking to sell a stake in around 20 million sq. f of commercial rental property that it owns, through the proposed REIT ofering. Te Bengaluru-based developer is backed by sovereign wealth fund Qatar Investment Authority, which invested around $300 Panchshil’s Premium bath also had signed a deal with Best Tech, a million in RMZ in 2013. Luxury real estate developer Panchshil hospitality company which will build 49 Realty has introduced bath pods technology park-ins and Radisson Hotels. credai, sbi sign mou at its Pune project, a frst in India. Te bath Real estate apex body CREDAI and pods were installed at Panchshil Towers, a rmZ shortlists bankers for its the State Bank of India, have signed a residential project at Kharadi. A bathroom iPo memorandum of understanding (MoU) to pod is a three-dimensional self-supporting Real estate developer RMZ Corp. is jointly conduct various initiatives towards element of structure that is prefabricated currently short listing investment banks development of the realty sector. Te MoU ofsite, with a foor base frame, walls and to manage its initial public ofering (IPO) will be in force for a period of 3 years. Both ceiling. It is delivered to the site, complete for its proposed real estate investment trust sides will leverage their individual strengths with all architectural fttings and fxtures. (REIT) which will enable the developer to and collaborate in areas to promote housing With the bath pods, the realtor is looking raise over Rs2,000 crore. REITs are entities for all, according to an SBI statement. SBI at transforming the scale construction of that primarily invest in leased ofce and will be a national partner for all CREDAI bathrooms and washrooms for medium retail assets, allowing developers to raise activities and both will jointly work and large-scale premium projects. This funds by selling completed, rent-yielding together for various marketing activities like technique will significantly reduce buildings to investors. Te developer had conclaves, seminars, exhibitions, campaigns construction timelines for all developers. invited investment banks to pitch for the and CSR activities. Panchshil Realty has always introduced cutting-edge construction practices and mumbai’s gets its first 'floatel’ has pioneered several such innovations Mumbaikars can now dine in the city’s frst foating hotel - 'AB Celestial' – while in its projects. Te bath pods is one such enjoying a relaxing evening in the backdrop of the iconic Bandra -Worli sea link. Te innovation which involves the fabrication theme hotel is docked at the Maharashtra Maritime Board's jetty at Bandra under the of best-in-class bathrooms using the latest Bandra-Worli Sea link, according to the Maharashtra Tourism Development Corporation. and best in methodology, techniques and Te luxury foating hotel was inaugurated recently by Maharashtra Chief Minister material. Devendra Fadnavis. Te concept was conceived by WB International Consultants in association with MTDC and Maharashtra Maritime Board. Te AB Celestial is designed carlson Plans 170 ProPerties in and imported from the US, having three-tier luxury dining foatel with a sky deck, two india galleys, and a capacity to accommodate a minimum of 660 guests across four tiers. Te Te Carlson Rezidor Hotel Group plans foatel, mainly targeted at afuent and foreign tourists, also houses two multi-cuisine to open 170 hotels in India over the next restaurants including a club lounge equipped with a 24-hour cofee shop. Currently, only three years. Te Group has been in India Goa, Karnataka, Kerala, Tamil Nadu and Puducherry have foating hotels. Globally cities for almost 15 years, operating 84 hotels, like New York, Dubai, Hong Kong, Saigon in Vietnam have foating restaurants. u with plans to open up 170 hotels in India by 2020. Te Group recently opened the Radisson Blu Atria, which will introduce the brand's internationally renowned, service philosophy with sophisticated design and premier accommodation. Tis is its third hotel in the city with another six in Karnataka.Te company has hotels in 60 cities, including 16 in state capitals. Te company invests in brands, distribution systems and revenue-driving platforms, and for brick-and-mortar units, the company relies on their partners. The company u APRIL 2017 |construction opportunities 75