Home Retail Middle East DLF, Dubai to develop Bidadi knowledge city in Karnataka

DLF, Dubai to develop Bidadi knowledge city in Karnataka

Dubai : India's DLF Ltd will develop a $12 billion housing and commercial real estate project near the technology and outsourcing hub of Bangalore, DLF's Dubai-based partner in the development said in a statement. The project will be developed by DLF in a 50:50 joint venture with the Dubai-based firm Limitless Holdings, a part of Nakheel and Dubai World group. California-based architecture firm Berkely and design firm Calthorpe Associates have been appointed the master planners for the project. The project is learnt to have been awarded to DLF following a global tender issued by the Bangalore Metropolitan Regional Development Authority (BMRDA). In all, 32 consortiums, formed by over 100 companies, had filed for the request for qualification (RFQ). The project will be developed at about 30 km away from Bangalore and 15-km from Mysore. “It is aimed at supplementing the urban infrastructure of the area, and will be a world-class destination for professionals to live and work in,” sources said. Bidadi will have homes for around 750,000 people as well as commercial and retail buildings. It is one of five townships Indian authorities are planning around Bangalore, Limitless said. Limitless is owned by the government's Dubai World agency which is building three islands shaped as palm-trees with hotels and villas off the coast of Dubai. Developers such as DLF, India's biggest by market value, are building more homes for people on lower incomes in India, a country that has about 53 million families earning $2,500-$5,000 a year. India's booming economy is projected to lift a further 22 million families out of poverty and into this income bracket by 2010.

 

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