Malaysian Construction Major UEM Construction Bhd enters joint venture with OPUS

News Posted - 2010-04-19

Malaysian Construction Major UEM Construction Bhd and OPUS Properties Ltd. (India) enter into a 50-50 Joint Venture to construct world class facilities.

Mumbai, April 19, 2010: UEM Construction Sdn Bhd, a Malaysian construction major and OPUS Properties Ltd, an upcoming Indian real estate development company today announced forming a 50-50 joint venture company to carry out the business of infrastructure works and building construction works for various projects across the country.

The soon to be incorporated JV company will commence its operations with “Danat-A-Pearl”, a gated community encompassing residential, commercial and entertainment facilities in Delhi NCR. Strategically located the project spreads over an area of 500 acres.

On the occasion of signing the joint venture agreement, Dato’ Abdul Rahim Abu Bakar, Chairman of UEM Builders Berhad (UEM Builders) said, “India is a key market for us as it has tremendous growth potential. While UEM Builders would benefit from the association by incorporating the technical and operational expertise into the project, Opus Properties Ltd will contribute much-needed knowledge on the real estate development front. We thereby look forward to a long and fruitful association with our Indian partner. Together we aim to accomplish the finest quality high-tech construction, leading to faster completion of Danat-A-Pearl and other future projects that the joint venture engages in.”

Mr. Rajesh Khursija, Chairman of OPUS Properties Ltd. (OPUS) said, “It’s a remarkable day for both partners and I am confident that the joint venture will go a long way in achieving our mutual goals. With total construction volumes of 60 million sft and value of US $2 billion, across all current projects, It’s a win-win situation for both companies and the success of the joint venture would lie in successful delivery of the projects”.

Other projects from OPUS, on the anvil, are a 450-acre Logistics Park in Navi Mumbai, a total one stop logistics solution meeting the logistic needs of diverse industries, , a 400-acre Entertainment City based on ‘Bollywood’ and ‘Entertainment’ concepts with components like an Entertainment Zone, studios, residential complex, Hospitality, commercial offices and shopping malls.

A 125 acre amusement destination, a 50-acre wellness city based on alternative medicine concepts, a 25-acre education hub and a 200-acre high-end residential development in Delhi NCR, are other projects from OPUS, which the joint venture company would be involved in.

Besides, new JV Company would also be looking forward to mark its presence in basic infrastructure projects like roads and bridges etc..

About UEM Construction Sdn Bhd / UEM Builders Berhad :

UEM Construction Sdn Bhd, a wholly owned subsidiary company of UEM Builders Berhad, is one of the prominent players within the construction industry and has a diversified portfolio of businesses in engineering & construction, infrastructure maintenance & facilities management and toll concession. Over the years, UEM Builders have significantly contributed to Malaysia’s landscape through the construction of globally recognized national infrastructures. They have a strong international presence in countries like India, Indonesia, Singapore, Qatar, Saudi Arabia and Abu Dhabi.

About Opus Properties Ltd:

OPUS Properties Limited is a professionally managed company, with top-of-the-line management professionals adept in real estate construction and development, working with Mr. Rajesh Khursija, promoter of OPUS who is also a respected and recognized name in the amusement and entertainment industry.

Source: accommodationtimes 19/4/10