Aparna group plans township near Hyderabad

Hyderabad: Morgan Stanley Real Estate has formed a 50:50 joint venture with Aparna group to develop ‘Aparna Laketown’ in Nalagandla near here.

The joint venture company would develop high-end residential accommodation in an area of 12-million sft. It would also house a hotel and an integrated retail and entertainment complex, a Morgan Stanley Real Estate press release said here. The Hyderabad-based Aparna group had so far developed premium and middle-income housing and commercial property in an area of two million sq ft. At present, it is executing projects in a total area of 7.5 m sft.

Morgan Stanley Real Estate acquired $135.9 billion of real estate assets worldwide and currently managed $68 billion in real estate assets on behalf of its clients.