Morgan Stanley partners with Aparna Group

Hyderabad, Dec 4 (UNI) Morgan Stanley Real Estate (MSRE) today announced that it has partnered with the 'Aparna Group' in a 50:50 joint venture to develop 'Aparna Laketown' in Nalagandla, Hyderabad.

The 12 million square feet development would comprise high-end housing and a commercial development with an integrated retail and entertainment complex and a branded hotel, a release said here.

Hyderabad-based residential developer the 'Aparna Group' had delivered around 2.0 million square feet of projects through villas, premium apartments, middle-income housing and commercial development and was currently executing a total of 7.5 million square feet of development.

''The partnership will allow the 'Aparna Group' to capitalise further on development opportunities in the Hyderabad market by leveraging MSRE's global franchise, knowledge and relationships to bring an international standard to the market,'' the release added.

UNI