$500 MN IN SHOPPING MALL JV INVESTED BY RIL, VORNAD
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Mukesh Ambani-led Reliance Industries on Wednesday announced a 50-50 partnership with US-based real estate investment trust Vornado to collectively invest 500 million dollars in a shopping mall joint venture. Under the JV, RIL and Vornado Realty Trust would commit up to 250 million dollars each to acquire, develop and operate retail shopping centers across key cities in
"The shopping centers will contain 500,000 to 1,000,000 or more square feet and typically be anchored by a hypermarket to be owned and operated by Reliance, Vornado said. RIL currently operates over 700 retail stores in multiple formats in
Courtesy:- ET dtd:
Date: 29 August 2008, Friday
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