09.01.2012 - Real estate firms drop overseas plans, to stay grounded in India
Real estate companies, which started venturing overseas around 2006-07, are reviewing their global plans. With the slump in international realty markets, many domestic companies are either withdrawing from weak markets or putting their global plans on hold. Raheja Developers, for instance, has shelved plans to enter markets such as Mauritius and Colombo. Hiranandani Group, which has a major presence in Dubai, has changed its strategy. Itís stopped launching new projects, and is focusing on completing existing projets for other developers on a contractual basis. Omaxe has already exited Dubai.............................................Full Article: Source
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