Tata Housing Forays into International Markets
~ Announces a Rs.1000 crore MoU with the Government of Maldives”
Mumbai, 5th July, 2010: Tata Housing Development Co. Ltd., one of the fastest growing pan-India
real estate developers with a presence across the consumer pyramid today announced the
company’s foray in the international market by launching their first overseas project in Maldives.
The project will be jointly developed with SG18 Developers Pvt. Ltd., under the banner of Apex
Realty, a special purpose vehicle (SPV) created for the Maldives foray.
Speaking on the occasion of the launch, Mr. Brotin Banerjee, MD and CEO, Tata Housing
Development Co. Ltd., said “This venture marks our international foray and gives us the opportunity
to showcase our expertise of building affordable as well as luxury housing in the foreign market. In
the coming years we plan to expand our footprints in other SAARC nations and Africa.”
Maldives - especially Male, faces acute housing shortage with a long waiting period, high population
density and inadequate infrastructure facilities. In order to cater to this shortage, the Government of
Maldives has launched a US$ 500 mn project to develop 10,000 housing units for the Maldivians.
Apex Realty has signed an agreement with the Government of Maldives for developing residential
apartments through a Public Private Partnership (PPP) model.
The Government of Maldives has allocated 4 plots on a long term lease of 50 years to Apex Realty to
develop residential apartments & retail Space in Male. 80% of the apartments will be handed over to
the government and the balance 20% will be sold at in the open market by Apex Realty. Additionally,
the government will also provide commercial space admeasuring 1.5 Lakh sq. ft. to be developed
and sold or leased out for 50 years and an exclusive island (Lhossalafushi) on a Faadipolhu Atoll to
develop premium luxury villas admeasuring 20,000 sq.ft. each.
All the residential properties are designed by reputed international architects, F+A of the US. The
architectural sophistication of this project will provide its residents elegance through its unique
contemporary design. Each residential apartment is strategically designed to maximize its living
space and the flow of natural light and air. Other amenities include unique landscaped deck –
designed in such a way that the residents can use it as social community space, swimming pool, spa
& gymnasium, parking space, secured access to residential lobbies and barbeque counters.
Like all other TATA Housing properties, the projects in Maldives will also comply with all the green
building norms reducing any impact on the environment. Tata Housing has created a strong foothold
in the luxury living by developing It’s two premium luxury properties in Pune – Prive and Gurgaon –
About Tata Housing Development Company Ltd.
Since the commencement of operations in 1984, Tata Housing has established itself as one of the key players in
Real Estate development in India. Our primary business is the development of properties in the Residential,
Commercial and Retail Sectors; with operations spanning across various aspects of Real Estate Development,
such as Land Identification and Acquisition, Project Planning, Conceptualization, Designing, Marketing and
Execution and Property Management.
Over the years, Tata Housing has come to be recognized for its Quality Construction, Ethical and Transparent
Business Practices, High Standard of Maintenance and Timely Delivery of Properties. Tata Housing has
pioneered the concept of property development by Corporates in India. Winner of Company of the Year by
GIREM Leadership Awards, 2010 (Global initiative for restructuring Environment and Management) and
recognized as Top Ten Developers in India by CW Architects and Builders Award, 2010 and the Enterprise that
cares in the ‘Community Engagement’ category at the Asia Responsible Entrepreneurship Awards, 2009; we
believe in creating a home or an office based on an understanding of the stated and unstated consumer needs
and preferences. Every property is developed only after a concentrated and focused market research to
determine the consumer needs and the project is accordingly designed and implemented.
Tata Housing is a comprehensive Real Estate Developer straddling across all consumer segments. Tata
Housing’s existing portfolio is well over 45 million square feet, in various stages of development. With existing
presence in Mumbai, Goa, Chandigarh, Bengalooru, Gurgaon, Pune, Lonavala, Talegaon, Chennai, Ahmedabad
and Kolkatta; we are now in the process of expanding our projects to other parts of India across tier I and II
cities. Recently Tata Housing has pioneered the concept of Sustainable Integrated Green Township
Development, theme based developments and by far has been the only player having a holistic approach to the
real estate segment.
About SG18 Developers Pvt. Ltd.
SG18 was founded with a vision of providing end-to-end solutions to companies and government institutions.
SG18 aims to provide high quality craftsmanship in the real estate and construction industry. Its main objective
is to join hands with government and local partners in SAARC countries and exploring development
For further information, please contact:
Vikram Kharvi Pallavi Rao / Suvarna Joshi
Manager – Marketing Communications Vaishnavi Corporate Communications
Tata Housing Development Company Limited Mobile: 9867554176 / 9987274027
Mobile: 9930143550 Email: email@example.com / firstname.lastname@example.org