Thakral Enhances Stake in Major Gurugram Development Project

Thakral Corporation Limited, a company listed in Singapore, has significantly increased its stake in Gurugram's expansive mixed-use healthcare development by acquiring an additional 81.6 percent in TIL Investments Private Limited. This brings its total holding to 95.3 percent after a purchase of SGD 93.9 million.

Having received approval from shareholders, the acquisition was finalized with Thakral's subsidiary, Paramount Investments Pte Limited. This move grants Thakral comprehensive control over the 21-acre property in New Gurugram, a prime real estate market in India known for its attractiveness to multinational companies and robust luxury housing demand.

The project will commence with a hospital and wellness center, which will be managed by an experienced healthcare operator. Thakral will play the role of the landowner, earning rental income based on revenue sharing, while other residential and commercial elements will be co-developed with third parties.

Positioning itself for multi-year growth, Thakral plans to combine different aspects of healthcare, wellness, and residential development on the site, aligning with India's burgeoning real estate landscape.

(With inputs from agencies.)