Realty firm Krisumi Corporation recently announced it’s plan to expand a 65-acre project in Gurugram over the next 10 years.
Moreover, it is investing a whopping Rs 650 crore on construction of more than 400 flats in the first phase.
Krisumi Corporation is a joint venture between Japanese firm Sumitomo and India’s Krishna Group incorporated on 24th May, 2012.
Sumitomo Corporation is part of the 400-year-old Sumitomo Group, a Fortune 500 company.
Further, it’s annual revenue amounts to $50 billion across 900 companies that employ 70,000 people across the globe.
Sumitomo has successfully delivered over 300 world class projects across Japan, USA, China and Indonesia.
The Krishna Group is one of the largest Indian automotive component manufacturing groups with annual revenues of $ 800 million.
With the 50:50 joint venture, Krisumi Corporation aims to build 5,000 flats, shopping mall, office space and educational institution.
The construction will take place at Gurugram’s 65-acre land abutting the Delhi-Mumbai industrial corridor’s Global City.
However, it launched the first phase ‘’Krisumi Waterfall Residences’’ which covers more than 5 acre land. Besides this, it also comprises of 433 luxury apartments.
The project will offer quality high-rise residential options across various sizes and budget.
Sumitomo Corp has sold over 30,000 condominiums in Kansai and in the Tokyo metropolitan area over the past 40 years.
In the office building business, it operates about 3,30,000 square metres of office space in Tokyo and Osaka.
Moving forward, Krisumi Corporation has recently appointed Vineet Nanda as director for sales and marketing.
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