Indian real estate giant, Tata Housing, a subsidiary of Tata Sons Pvt Ltd has revealed that it will invest around $36 million to develop two more residential projects in the city of Male, Maldives.
Sanjay Dutt, managing director and CEO, Tata Housing and Tata Realty and Infrastructure Ltd said: “We are excited to launch the second phase of our projects in Maldives. It is a premier residential development. Tata Housing is committed towards delivering unmatched spaces and elevating the living experience of its homebuyers. We sincerely thank the government of Maldives for being very investor friendly and professional. This development will be followed by island developments in the near future. Maldives is fast growing; however Male City needs more to meet the appetite of growth of Maldives as an economy and the rising standards of its citizens. We are committed to play our part as a responsible real estate development company.”
According to reports, the project is being developed in a public-private partnership with the Maldives government. Tata Housing plans to develop the two residential plots with a total development area of 2.52 lakh sq ft.