Raheja , Arbtech JV to build world class towers in Delhi NCR

Raheja Developers announced a joint venture (JV) with Dubai-based Arabtec Construction, for its construction projects in Delhi and Gurgaon.

According to the terms of the agreement Arabtec Construction would hold 63 per cent stake in the joint venture named Arabtec Raheja and the remaining 37 per cent would be with Raheja Developers.

The JV would start development of a 56-storied (195 metre) housing project Raheja Revanta in Gurgaon comprising 1,200 units. Later, it will develop another project, the Raheja Shristi, in Gurgaon.

It would later build Raheja's tallest project in Delhi, the Raheja Phoenix, a 54-storied tower in Patel Nagar area in Delhi with a skyclub and a helipad. The projects will be completed in three to four years.

According to Raheja the height clearance for both the building has been cleared by the DGCA