Redhawk to invest USD 1.2 Billion in India

Bangalore, Nov 30 (UNI) The US-based Redhawk Investments Group LLC will invest US Dollar 1.2 billion in setting up 'Vishadh Park' in a sprawling 500 acre area in India, its Chief Executive Officer Bipin Agarwal announced today.

Talking to newspersons here, he said 'Vishadh Park' would become a domain-specific real estate park in India for the financial service industry.

He said the domain-specific approach was taken based on the fact that current offshoring development in India was broad and did not address the challenges related to attrition, domain leverage, education and quality of life for the talent those global companies wish to attract. Redhawk defined its vision of less than 20 minute of travel for common utilities which was a boon to organisations for their productivity and provided individuals a standard of life with balance, he added.

Mr Agarwal said the development proposed would be an epicentre for economic growth and opportunity in India and it would capitalise on an untapped market in the area of domain-specific real estate.

To a question, he said the ten-year project consisted of developing 1.1 million sqft of commercial property to house 20,000 manpower. The initial development also comprised 26 million sqft of residential area to house the 20,000 professionals. The plan also included retail, healthcare and entertainment areas within the park.

He said that according to a Goldman Sachs report, India's GDP was expected to reach one trillion Dollars by 2011, two trillion Dollars by 2020 and 27 trillion Dollars by 2050 and India would become the third largest economy after the USA and China. In terms of GDP, India would overtake Italy by 2016, France by 2019, the UK by 2022, Germany by 2023 and Japan by 2032. India alone had the potential to show the highest growth (over five per cent) over the next 50 years, he added.

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