India’s Smart City Announces Joint Venture For The Establishment Of 50 Smart Cities Across The Country

February 05 15:01 2018
The twelve years project will make cities environmentally friendly, hi-tech compliant, and ideal for business and economic growth

India – Panchshil Realty, in a joint venture with Carbon Assets Management, and Smart City Korea, is proud to announce the establishment of “Smart City India.” Panchshil Realty will act as the master concept development company. Smart City Korea, as leading Smart City development company in Korea to provide the turnkey Smart City urban design and development services and Carbon Asset Management manages the entire financial structuring, private equity investment, and debt financial solutions of Smart City India. The vision of Smart City India is to establish 50 Smart Cities across India by 2030, and each project varies from 500 million USD to 2 billion USD of investment.

“This joint venture is one of a kind in the history of India. It brings together some of the best property design, development, and management companies in the world, for the sole purpose of establishing highly functional and modernized smart cities across the Indian nation. We are very excited about this development, and we promise to deliver success at the end of the day, which will bring investments and economic growth to our country,” said a representative of Panchshil Realty.

Each company taking part in this project is playing a vital role that will see the eventual success.

Panchshil brings the ultimate know-how and expertise of modern property development, from pre-design stage to long-term tenancy management. The company is one of the most successful India based property developers with iconic projects such as Trump Towers Pune, Yoo by Philippe Starck, World Trade Center Pune and multiple technology and corporate parks.

Carbon Asset Management will be providing private equity investment management, as well as bring the entire financial structuring, management and distribution of the project. The company is the asset management arm of ALSHAHEEN GROUP, one of the world’s leading Asset Management companies with over 24 billion USD assets under management.

Smart City Korea, shall provide the turnkey Smart City urban design and development services in the Smart City India joint venture and under its dedicated technology and solutions consortium, utilizing world-class technologies and solutions of the major Korean companies for all aspects of a Smart City.

Smart City India is inline with the government Smart Cities mission across India, which is an urban renewal and retrofitting program. The goal of the mission to develop 100 cities all over the country making them citizen friendly and sustainable. This makes “Smart City India” a joint venture platform where public and private interests are mutual, to make life more pleasant and efficient.

Concept efficiency is the most critical factor in all smart city projects. Smart City India is going to conclude the MOUs for the first two signature projects on the first date of establishment. This will involve a 1B USD Smart City master plan in Pune and 1B USD Kakinada region in Andhra Pradesh state.

About Smart City India

Smart City India is the next generation of urban development joint venture between top property design, investment, and management companies in the world. Each Smart City project is environmentally friendly, efficient, and energy saving. It supports high-tech ICT and green technologies, ideal for entrepreneurs and start-up companies.

Panchshil Realty
Tech Park One, Tower E, 191 Yerwada
Pune – 411006. INDIA.
Tel: +91 20 66473200

Smart City Korea
95-1 Donggwang-ro
Seocho-gu
Seoul
South Korea
Tel: +82 2 581 3888

Carbon Asset Management AG
Innere Margarethen Strasse 5
CH 4051 Basel
Switzerland
Tel: +41 588 0500

Media Contact
Company Name: Smart City Korea
Contact Person: Media Representative
Email: media@smart-city.kr
Phone: +82 2 581 3888
Address:95-1 Donggwang-ro, Seocho-gu
City: Seoul
Country: South Korea
Website: http://smart-city.kr

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