(MENAFN- Khaleej Times) Tasweek and joint venture partner Mams Holdings Group have visited Akhilesh Yadav chief minister of Uttar Pradesh to discuss various investment opportunities related to 'smart city' and urban development in this regard.
Dubai: Tasweek Real Estate Development and Marketing an advisor consultant and solutions provider serving the property markets has announced that it is exploring the possibility of engaging in ‘smart city’ projects in India in collaboration with local partner Mams Holdings Group.
This is in support of Indian Prime Minister Narendra Modi’s vision of developing 100 smart cities to modernise mid-sized cities and act as satellite towns of larger metropolitan areas. India’s 2015 federal budget includes provisions for ‘smart practices and smart living’ with $1 billion allocated for the Urban Rejuvenation Mission and $84 million earmarked for the habitation and development of 100 smart cities.
Tasweek and joint venture partner Mams Holdings Group have visited Akhilesh Yadav chief minister of Uttar Pradesh to discuss various investment opportunities related to ‘smart city’ and urban development in this regard. The chief minister is keen on providing affordable smart housing solutions and developing 200000 low-cost homes in his state in the coming years.
Tasweek recently formed a strategic partnership with India’s Mams Holdings Group an international development and construction firm to mutually pursue business and investment prospects in India the UAE and the GCC. Under the terms of their agreement the partners will particularly seek residential commercial and mixed-use projects enabled with ‘smart’ technologies in India. Masood Al Awar CEO of Tasweek Real Estate Development and Marketing said: “Several technology and advisory firms urban planners and engineering firms have voiced their interest and full support for the chief minister’s initiative of ‘smart cities’ for India. Our partnership with Mams Holdings is thus very timely and strategic as we will have access to local market expertise and know-how on how to support affordable yet ‘smart’ living in Uttar Pradesh and other parts of India. We will continue to jointly discuss opportunities with our partner in alignment with India’s long-term development agenda.”
India’s 2015 federal budget will boost investments into infrastructure tourism renewable energy innovation and livability in line with its sharper focus on smart cities. Under the government’s plan all states will eventually have at least one ‘smart city.’
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