ACI Real Estate enters Indian market

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Hyderabad, Apr 9 (UNI) Marking phase, one of network extensions into India's burgeoning HNI-base ACI Real Estate, an affiliate of Alternative Capital Invest GmbH, has today appointed Hyderabad-based Global Properties, as a franchisee in India's booming southern regional market.

ACI's Indian franchisee network was currently being established to serve ACI's Real Estate portfolio in the United Arab Emirates (UAE) currently valued at over Rs 100 billion.

In the coming months, ACI will seek prime franchisee operators to represent them across key Indian cities. Its portfolio, includes residential, commercial, leisure and retail developments in prime locations across Dubai, Abu Dhabi, Ajman, and other emerging cities across the UAE.

Over the next 12 months, the company intends to appoint franchisee in Mumbai, Delhi, Kolkata, Bangalore and Pune before taking a 'definitive decision' to invest in India in 2009.

Speaking on the potential of the franchisee set up, Sanjay Chimnani, Joint Managing Director, ACI Real Estate, said the agreement with Global Properties marks the company's first alliance in India to serve the rapidly growing investor market here. In selecting out-local franchisee, the company found Global Properties, who shares in the mission of doing business with transparency, purpose and integrity, he added.

Mr Chimnani said the company believe that the ACI franchisee network in India will set up a valid gateway that links the astute Indian investor with ACI's vast UAE property portfolio'.

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