L&W Construction Pvt Ltd, a 100 percent subsidiary of Singapore's Lee Kim Tah Woh Hup Pte Ltd, has acquired 25 acres in one of Bangalore's most up and coming locations for a high-end residential project for Rs 100 crore.
International property consultant Jones Lang LaSalle has advised this deal which is one of the high-value transactions in the city's real estate sector.
Mayank Saksena, Managing Director - Land Services, Jones Lang LaSalle India said: "This is an extremely strategic acquisition for L&W Construction Private Limited, and one of Bangalore's largest land deals of 2013 to date. The location of this land, on NH7 at Devanahalli is among Bangalore's most promising growth corridors by virtue of its proximity to the Bangalore International Airport."
In developing the project, L&W Construction Private Limited will draw on the expertise of Lee Kim Tah Woh Hup, which is a JV established by Lee Kim Tah Holdings Ltd and Woh Hup (Pte) Ltd, two of Singapore's oldest construction companies.
They have completed projects in Australia, UK, China, Singapore, Thailand, Malaysia, Indonesia, Myanmar, Middle East, Sri Lanka and the Philippines.
The Devanahalli sub-market is defined by an impressive scale of activity on premium and luxury projects. This is largely due to the on-going and planned infrastructure developments in these areas, with the establishment of Bangalore International Airport being one of the primary catalysts for the North Bangalore micro-market.
