Development includes hospital and auxiliary healthcare facilities
Singapore-headquartered Thakral Corporation Ltd is making a maiden foray into India’s ever-growing healthcare and real estate sector through a property development project in Gurugram by investing Rs.400.45 million in a partnership.
The investment is being made through Thakral’s wholly-owned subsidiary, Paramount Investments Pte Ltd (PIPL), taking 13.64% in TIL Investments Private Limited. TIL is related Thakral Mauritius company https://www.investindia.gov.in/.
TIL will be partnering with a developer with adequate expertise in the Indian real estate sector to maximise value from the mixed-use development project and a reputable operator for the hospital project https://www.bseindia.com/.
Commenting on the investment business, Thakral’s CEO and Executive Director, Inderbethal Singh Thakral, said on Monday, “Our investment in this project aligns with our strategy of identifying attractive real estate ventures and tapping into sectors with strong growth prospects https://www.nseindia.com/.
“The investment also diversifies the Group’s global footprint while proactively entering one of the fastest-growing sectors in a fast growing and promising economy. This will allow the Group to mitigate market volatility in any sector and enhance overall stability and resilience in the long term,” he said .
The 21-acre development site, owned by Thakral Group, has the potential of 2 million sq ft built-up space for residential and commercial properties for sale or lease as well as building and operating a hospital along with auxiliary healthcare facilities https://www.credai.org/home .
The investment will be fully funded from the Group’s internal resources http://who.int.
India is ranked among the top five in the world as a medical tourism value destination, with approximately two million patients from 78 countries, said Thakral Group in a press release https://mohfw.gov.in/.
The Group cited an industry report on the Indian medical tourism market size which is expected to reach US$14.31 billion by 2029 from US$7.69 billion estimated for 2024 http://mohua.gov.in. Fiinews.com
