Ansal inks MoU with Dubai-based Noor Capital for projects in UP

New Delhi, May 29 (UNI) Real estate developer Ansal Properties and Infrastructure Ltd (API) today signed a memorandum of understanding (MoU) with Dubai-based Investment company Noor Capital and its adviser India Realty Ltd for investing in projects of Ansal API.

Initially two projects in Uttar Pradesh -- 500 acre integrated township, Sushant Taj City, in Agra and a group housing project Ansal Aquapolis in Ghaziabad -- have been identified.

The MoU will help the companies to work on series of projects in the near future.

''Noor Capital's expertise in investment solutions and pan-UAE presence will help us look at customers beyond India. This infact is a great way for people in UAE and also a large number of Indians working there who want to invest in India but has limited knowledge of good opportunities,'' API CEO and Director Anil Kumar said in a statement.

He said real estate market in India is growing and quality investors are required to give further boost to the growth of the sector. The MoU will build confidence amongst foreign investors and give them opportunities to invest.

''We bring in the expertise of having a large customer base in UAE and deep understanding of the UAE market. API is a leader and well respected name in the real estate sector in India. This would enable our investors to look at Indian market much aggressively and gain from quality and safe investment options offered by API,'' Noor Capital Managing Director Abdul Jabbar said.

UNI