‘Social infrastructure next focus area for realtors’April 18th, 2008 - 9:33 pm ICT by admin
New Delhi, April 18 (IANS) After housing and retail infrastructure, real estate developers would now focus on social infrastructure sector, Ansal Properties and Industries chairman Sushil Ansal said here Friday. “The coming years will see the developers shift their focus to infrastructures for hospitals, schools, clubs and various entertainment parks, which have huge investment potentials”, Ansal said on the sidelines of a business meeting.
“India, with a large population base and a large pool qualified doctors, lack good hospital infrastructure. Many hospitals have already tied up with developers for the infrastructure development,” he said.
“Educational institutes are yet another area that will require huge investment for developing infrastructure facilities. These areas have largely remained untapped”, Ansal added.
According to him, “Most of the development activities will be carried out in tier II, and tier III cities as they lack social infrastructure.”
Ansal Properties has already tied up with education service provider Educomp Solutions to develop 17 schools, which will entail an investment of Rs.2.5 billion ($62.8 million) in three-four years.
The schools under the ‘Millennium School’ brand will be developed through its subsidiary Knowledge Tree Infrastructure (KTIL), in which Educomp has agreed to pick up five percent stake.
Tags: ansal properties, business meeting, education service provider, entertainment parks, focus area, hospital infrastructure, infrastructure development, infrastructure facilities, infrastructure sector, knowledge tree, ktil, millennium school, New Delhi, population base, real estate developers, rs 2, sidelines, social infrastructure, sushil, tier ii