M3M Group, India signs US $5 billion deal with Xian Ji Co. of China for Multi- Trade Exposition Centre’s in India
New Delhi, November 11, 2014: M3M Group, country’s leading ultra-luxury real estate developer, today announced their strategic tie- up with the Xian Ji Co. of China for massive Multi-Trade Exposition Centre’s in India. Both the companies signed a MoU for US $ 5 billion, planning to build an expansive new convention and exposition Centre in Gurgaon.
This unprecedented collaboration by the M3M Group, Real Estate Development leaders in India,
with one of the largest Chinese Corporations of China, follows hot on the footsteps of the recent meeting held between Prime Minister Narendra Modi and the Chinese Premier Xi Jinping on his last visit to India.
China has shown interest in partnering with India in the urban development sector, including the development of new smart satellite cities and large Expo Centre’s, to foster world trade employing mutual resources and talent. The top leadership of China conveyed its areas of interest during extensive talks that were held between the two great economies. During the talks, both sides decided to set up committees to further examine and concretize the areas of cooperation between the two countries in the context of India’s initiative to build 100 news smart cities.
Pankaj Bansal, Director-M3M Group, stated at a formal signing ceremony on the association between M3M and the Xinji Group, "This is a historic step taken by any Indian company, inspired by our honorable Prime Minister to 'Make in India'! We at the M3M Group are proud to sign this momentous MOU agreement to associate with one of China's best and largest Groups to develop world-class Maxi Expo Centre’s in India".
Commenting on the MOU, India's Consul General in Guangzhou, K Nagaraj Naidu said, “If materialized, such huge Expo-Centre’s could play a major role in showcasing India's products as the country lacks this facility, barring a few like in Pragathi Maidan. China has benefited immensely from developing huge expo- centres in several cities including Shanghai and Guangzhou by holding annual fairs attended by lakhs of buyers from abroad.”
These Centers will have large International Convention Arenas, Hotels, Exhibition Halls, Office Spaces, Retail Hubs and Universal Media Cities. In fact, this type of development will foster world trade for both countries. They will rival and supersede the likes of Pragati Maidan, the Melbourne Darling Harbour Centre and Seoul and Dubai Expo Cities!
M3M will be able to benefit from the experience of Xinji, as the corporation is well known for developing and providing every aspect of the hospitality industry. M3M has the knowledge, experience, land bank (2000 acres) to partner such a venture. Initial information regarding the agreement proposes a joint investment by both groups. A total investment of US $ 5 billion has been planned in over 5 years for the venture which will see numerous Maxi Expo Centers all across India as part of the satellite 'Smart City' concept of the Prime Minister of India. Total 1000 acreland has been identified in Gurgaon for this development.
About the Xinji Group of China
Xinji Group was founded in Panyu, Guangzhou in 1998. It has now developed into a mega corporate with a wide business scope covering real estate, exposition center of hotel supplies, exposition center of home furnishings, urban complex, tourism real estate, convention and exposition economy, international trade and star-rated hotels.
Xinji Group has over 20 subsidiaries with more than 30 projects in many parts of China. Over the past 16 years, Xinji has been expanding its business and set up a total of 6 headquarter bases in Guangzhou, Shenyang, Chengdu, Wuhan, Nantong and Hohhot with business in 32 major cities in the country.
At present, Xinji Group operates in a total area of 1.5 million square meters. With an area of 9 million square meters to be exploited, the Group has an abundance of land resources to offer.
Xinji Group has developed many high-impact projects of commercial and residential real estate including Dashi Furniture Town, Xinji Shaxi Exposition Center of Hotel Supplies, Fuli Plaza, Xinji Town and so on. The Group has become an exemplary player in the industry.
About the M3M Group of India
M3M Group is one of India's premiere business conglomerates with interests in Real Estate (Residential / Commercial / Retail), Hospitality, Education and IT / SEZs. The land bank exceeds 2000 acres of prime land with 11 million sq. ft. of built up space. The organization has already invested over USD 500 million in developing many iconic projects in North India. The projected business value of the organization exceeds USD 5 billion.
M3M has embarked upon 39 projects in Haryana. M3M Golf Estate, the 75 acre uber luxury resort-like residential complex is an example of it venture. This project has won many accolades and awards the world over at Dubai, London and San Francisco. Recently it won the award for the Best Luxury Project in India from NAREDCO, a Govt. of India patronized organization. The group is known for its philanthropist activities in uplifting the weaker sections of our society. M3M is also known to back healthy and clean living by promoting sports and games for the youth. The recent Polo tournaments were sponsored by the company.
M3M is an ardent supporter of all government initiatives. The company directors were part of the recent business delegation to Japan along with the PM and also accompanied the President of India, His Excellency Shri Pranab Mukherjee, to Finland and Norway.