PETALING JAYA (April 4): Malaysian Resources Corp Bhd (MRCB) has signed a memorandum of understanding (MoU) with Adani Realty in New Delhi on April 3, 2017 to explore opportunities in the development of convention centres in India.
The signing ceremony was held during the Malaysia-India Business Forum and Luncheon “Leveraging Malaysia-India Strategic Partnership” yesterday in New Delhi.
It was witnessed by Malaysian Prime Minister Datuk Seri Najib Razak and Indian Minister of Commerce and Industry Smt. Nirmala Sitharaman.
MRCB group managing director Tan Sri Mohamad Salim Fateh Din said in a press release that this could be the company’s first foray into India.
“I believe we have found an excellent partner [Adani Realty] which will complement our strong expertise in transit-oriented developments (TODs) to leverage the tremendous opportunities in this country,” he said.
MRCB is the developer of the RM18 billion KL Sentral CBD, which is also the first TOD in Malaysia. The company currently owns 400 acres of landbank with an estimated gross development value of RM49 billion.
Meanwhile, Adani Realty group CEO Ajay Munot said the company with its vision for nation-building intends to bring on board MRCB’s excellence in execution and cutting-edge technology into all infrastructure and real estate offerings across India to create marque solutions.
Adani Realty is a unit under Adani Group, India’s top infrastructure and development conglomerate. Currently, Adani Realty is developing over 69 million sq ft of residential, commercial and social club projects across Ahmedabad, Mumbai, Gurgaon and Kochi in India.