Tata Housing Signs Addendum Agreement with the Government of Maldives

Tata Housing, India’s fastest growing Real Estate Development Company across the consumer pyramid today signed addendum agreement with the Government of Maldives for the successful completion of the residential projects in Malé, Maldives. The agreement was signed by Mr Brotin Banerjee, Managing Director and CEO, Tata Housing in the presence of Minister of Housing and Infrastructure Dr. Mohamed Muizzu in Maldives.

The agreement of this project was signed in May 2010 between the government of Mohamed Nasheed and Apex Realty Pvt Ltd. to develop luxury holiday villas and premium apartments under the brand ‘La Grande’. With the revised agreement, the Company will resume work on the Gaakoshi and Arabiyya sites. Apex Realty Pvt Ltd. is a joint venture between TATA Housing Development and SG 18 Realty.

Commenting on the announcement, Mr. Brotin Banerjee, MD and CEO, Tata Housing Development Company, said, “We are delighted with this development and look forward to working with the Maldives Government to develop the project. We are positive that this will significantly contribute towards building strong bi-lateral relations between India and Maldives, thereby, encouraging other companies in India to enter into similar JVs.”

He also added, “We are committed to deliver the residential apartments to the people and Government of Maldives and foresee huge demand potential of the project. The signing of this agreement is a significant milestone for Tata Housing and we endeavour to be a significant player in the international real estate market.”

The residential properties are designed by using modernist principles and contemporary clean lines and details to meet the city’s prescribed set-back requirements. The architectural design of the project is the innovation of globally-renowned architects F+A of the United States of America which uses contemporary designs and maximizes the use of living spaces and natural light and air.

Tata Housing also plans to expand its international footprint in other SAARC nations and Africa.

About Tata Housing Development Company Limited:

Established in 1984, Tata Housing is a closely held public limited company and a subsidiary of TATA Sons Limited. TATA Sons Limited holds 99.86% of equity share capital of the company. 

Since its revival in 2006, the company has grown exponentially establishing itself as the fastest growing real estate developers in India, with 70 million sq.ft under various stages of planning and execution and an additional 19 million sq.ft in the pipeline. Tata Housing has stood out in the industry with quality construction, ethical and transparent business practices, rapidly acquiring an image as a Quality Conscious and Reliable Developer. 

Today, Tata Housing is developing large townships and differentiated theme based projects in major and mini metros. As a comprehensive real estate developer of choice, Tata Housing straddles across all consumer segments from value to luxury housing, by offering products ranging from Rs. 5 lakhs to Rs. 14 crores. All projects developed by Tata Housing are certified sustainable green developments, designed by top internationally renowned architects.  

With strength of over 650 employees, and presence in Mumbai, Lonavala, Talegaon, Pune, Ahmedabad Goa, Gurgaon, Chandigarh, Bengaluru, Chennai, Kolkata and Bhubaneswar; the company is now in the process of expanding its footprints to other parts of India across tier I and II cities. The company has also ventured into foreign markets such as Maldives and is actively exploring other markets including Sri Lanka and other South Asian countries.

Tata Housing has been receiving various industry recognitions and accolades, both on domestic and international platforms. For additional information, visit: www.tatahousing.in

For further information, please contact:

Tata Housing

Amit Nanda

amitnanda@tatahousing.com

+91-9820103119

Rediffusion/Edelman

Uzzal Mohan

Uzzal.mohan@edelman.com

+91-9246 21 5332