DLF Ties Up With UAE Firm

New Delhi: New Delhi-based real estate builder DLF and Nakheel, a large property developer from the UAE, on March 26, inked a 50:50 joint venture for two integrated townships spread across 40,000 acres in India with an initial investment of $10 billion. Nakheel''s portfolio includes several land reclamation projects (creation of land where there was once water) in Dubai such as The Palms, Dubai Waterfront and The World. The JV would develop 20,000 acres each in Gurgaon (beyond Manesar and in conformity with the draft Master Plan) and in Maharashtra between Mumbai and Pune.