Premium
This is an archive article published on November 5, 2011

Raheja Developers inks Rs 1k cr deal with Arabtec

Delhi-based real estate firm Raheja Developers announced a deal it has entered into with Dubai-based construction major Arabtec.

google-preferred-btn

Delhi-based real estate firm Raheja Developers on Friday announced a deal it has entered into with Dubai-based construction major Arabtec. The deal valued at 204 million around Rs 1,020 crore will see both firms forming a special purpose vehicle SPV to construct three upcoming residential projects promoted by Raheja Developers. Of this,two are coming up in Gurgaon and one in New Delhi. All the three projects are high rises with a minimum of 50 floors.

Arabtec Construction is a leading contractor in the United Arab Emirates and was involved in the construction of the Burj Khalifa,the tallest building in the world. It has a presence in 11 countries and has partnered Raheja Developers exclusively in India.

Navin Raheja,CMD said,Arabtec brings the kind of expertise we were looking for in the execution of high rise developments,making it an ideal partner for our future plans. The company has 60 million square feet of executable land bank.

Raheja,in his capacity as president,National Real Estate Development Council NAREDCO,an autonomous self-regulatory body for the real estate sector,expressed concern at the sudden steep increase in cement prices by almost 55 per cent in the three months since August. Currently,cement is being quoted at Rs 280 per bag. In August,the price was Rs 180 per bag.

This clearly is evidence of cartelisation by cement producers. The situation is acute in north India, said Raheja. NAREDCO has filed a complaint with the Competition Commission of India over the issue. He also said that the burden of the increased prices will be passed on to prospective home buyers.

He added that steel and cement are the principal inputs in the real estate industry and questioned the rationale of cement prices shooting upward when steel has not,given that both have a common raw material,coal.

 

Latest Comment
Post Comment
Read Comments
Advertisement
Live Blog
PHOTOS
In pics: From concept supercars to electronic SUV's: Bharat Mobility Global Expo 2025 was all about innovation
In Pics: From Concept Supercars to Electric SUVs – Innovation at Bharat Mobility Global Expo 2025
Top Stories
BJP insiders said the outreach would be announced in the coming week and would be “structured to seek maximum impact down to the polling-booth level, especially in rural India” months before Assembly polls in West Bengal, Assam, Tamil Nadu and Kerala.
As Congress revives MGNREGA as a rallying cry, how BJP plans to fight back
Second Lieutenant Arun Khetarpal, Param Vir Chakra (posthumous), whose life has inspired the movie Ikkis.
‘Ikkis’ forever: The boy soldier who pleaded with his commander to go to war
Anurag Kashyap heaps praises on Ranveer Singh's Dhurandhar.
Anurag Kashyap heaps praise on Dhurandhar while disagreeing with its politics: 'Aditya Dhar is a Kashmiri Pandit who has suffered'
Jay Bhanushali and Mahhi Vij confirm divorce
Jay Bhanushali and Mahhi Vij announce divorce after 14 years of marriage: 'We chose peace over drama'
Deepinder Goyal that his introverted nature had proved to be lucky for him
'Nobody listened to me': Zomato CEO Deepinder Goyal recalls childhood bullying over skin tone and the ‘biggest hurt’ before his success
In India, the supermoon was visible shortly after sunset, giving skywatchers a striking early-evening view.
Wolf Moon: the first supermoon of 2026 lights up night sky in Bhubaneswar and Guwahati; watch
Bangladesh's first three matches in the 2026 T20 World Cup are scheduled to be played in Kolkata while the last is slated to be hosted by Mumbai. (BCB Photo)
BCB told to get Bangladesh's T20 World Cup matches shifted out of India
Satwik
Badminton: With home titles proving elusive, India Open 2026 presents the country's top shuttlers with chance to prove big-match credentials
My wish for 2026 is that we somehow manage to get an Opposition party that will put the Modi government on the mat for its many failures on many, many fronts.(Illustration: C R Sasikumar)
My wish for 2026 is that we somehow manage to get an Oppn party
Maduro captured, flown out; US to run Venezuela: Trump
US capture of Venezuela’s Nicolas Maduro puts New Delhi in a bind
low salt diet
This is what happens to the body when you are on a low-salt diet
CES 2026 keynotes
CES 2026: How to watch Nvidia, Samsung, Lenovo keynotes live; date and timings
Advertisement
Must Read
BCB told to get Bangladesh's T20 World Cup matches shifted out of India
Bangladesh's first three matches in the 2026 T20 World Cup are scheduled to be played in Kolkata while the last is slated to be hosted by Mumbai. (BCB Photo)
Badminton: With home titles proving elusive, India Open 2026 presents the country's top shuttlers with chance to prove big-match credentials
Satwik
Craig Fulton interview: 'With packed Pro League schedule, and World Cup-Asian Games block in mind, looking to select two separate groups'
Fulton
CES 2026: How to watch Nvidia, Samsung, Lenovo keynotes live; date and timings
CES 2026 keynotes
Ancient ape fossils offer new clues to humanity’s first steps
At the time, some researchers suggested the species could be the direct ancestor of modern humans, largely based on the position of the skull. (Image: Smithsonian)
Elon Musk’s X says users, not Grok, will be liable for illegal AI-generated content
Many users turn to AI chatbots like Grok and Ask Perplexity to verify claims circulating on X.
This is what happens to the body when you are on a low-salt diet
low salt diet
Advertisement
Buzzing Now
'Nobody listened to me': Zomato CEO Deepinder Goyal recalls childhood bullying over skin tone and the ‘biggest hurt’ before his success
Deepinder Goyal that his introverted nature had proved to be lucky for him
Wolf Moon: the first supermoon of 2026 lights up night sky in Bhubaneswar and Guwahati; watch
In India, the supermoon was visible shortly after sunset, giving skywatchers a striking early-evening view.
‘Not a single piece of trash’: Video of spotless Kerala railway station platform goes viral; netizens applaud
kerala Railway station cleanliness
Delhi college students invite food delivery rider to join their New Year's house party: 'Pure Delhi energy'
Food delivery rider new year party in Delhi
Anand Mahindra says ‘I want my MTV’ as iconic music channels go off air after 44 years: ‘End of an era’
Anand Mahindra MTV
Jan 04: Latest News
Advertisement