Tata Housing signs deal to resume work on Male project

New Delhi: Tata Housing on Thursday signed addendum agreement with the Government of Maldives for completion of residential projects in Malé. The agreement was signed by Brotin Banerjee, Managing Director and CEO, Tata Housing, in the presence of Maldives Minister of Housing and Infrastructure Mohamed Muizzu in Maldives.

The agreement for this project was signed in May 2010 between the Government of Mohamed Nasheed and Apex Realty Pvt Ltd., a joint venture between Tata Housing and SG 18 Realty, to develop luxury holiday villas and premium apartments under the brand ‘La Grande’. With the revised agreement, the company will resume work on the Gaakoshi and Arabiyya sites.

Commenting on the announcement, Banerjee said, “We are delighted with this development and look forward to working with the Maldives Government to develop the project. We are positive that this will significantly contribute towards building strong bilateral relations between India and Maldives, thereby, encouraging other companies in India to enter into similar JVs.”

The residential properties are designed by using modernist principles and contemporary clean lines and details to meet the city’s prescribed set-back requirements. The architectural design of the project is the innovation of globally-renowned architects F+A of the US which uses contemporary designs and maximises the use of living spaces and natural light and air.