India's Zoom to Invest US$100MLN in Philippines for Condominiums

NEW DELHI, Oct 11 Asia Pulse - Real estate firm Zoom Developers said it would invest US$100 million to develop 1.5 million square feet of condominiums in the Philippines.

"We have proposed a capital outlay of US$100 million for construction of 600 condominiums in the Forbes park area," Zoom Developers CEO Rumneek Bawa said in a statement.

For this, Zoom Developers has signed a memorandum of understanding with the Land Bank of the Philippines.

"Having recognised the need and vantage of such condominiums in the plush metros, we are thoroughly encouraged to develop such facilities for the residents of Manila and Makati," Bawa said.

Zoom Developers has secured leading international architect firm 'Palafox Associates' to design the project, Bawa added.

(PTI)

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