Vornado, Reliance in shopping center venture

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Vornado, Reliance in shopping center venture

Post  Anand on Fri Aug 15, 2008 6:23 pm

NEW YORK: Vornado Realty Trust and Reliance Industries Ltd, India's largest public company, are teaming up to build and operate shopping centers in India, the US real estate investment trust said on Wednesday.

Each company has agreed to contribute up to $250 million to the 50-50 joint venture that will build large shopping centers, some surpassing 1 million square feet, and be anchored by hypermarkets that Reliance will own and operate.

Anand

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