KBC Global Appoints New CEO, Ventures into African Real Estate Market
KBC Global, a leading Indian real estate company, has announced the appointment of Mr. Muthusubramanian Hariharan as its new CEO and has marked its entry into the African market with a $20 million subcontract from CRJE (East Africa) Ltd.
Real EstateKbc GlobalAfrican MarketInfrastructure DevelopmentCeo AppointmentReal Estate MaharashtraJul 25, 2024
In a strategic move to enhance its operations, KBC Global has inaugurated a new corporate office in Mumbai, located at Maitrya Business Park, Vile Parle. The company, established in 2007, has made significant advancements in the real estate sector, focusing on residential and mixed-use projects in Nashik, India. Some of its key projects include Hari Gokuldham, Hari Nakshtra-II, Eastext Township, Hari Sanskruti-II, Hari Siddhi, and Hari Samarth.
KBC Global has also announced plans to expand both domestically and internationally. In April 2024, the company's board approved the conversion of 60 bonds into equity shares as part of its Foreign Currency Convertible Bond (FCCB) issue. Recently, the company handed over 109 residential and commercial units across various projects in Nashik, including 76 units in the Hari Kunj Mayflower project and 19 units in Hari Krishna Phase IV.
The Indian real estate sector is expected to continue growing, driven by supply and demand dynamics, supportive regulatory frameworks, and government initiatives like 'Housing for All' and the Pradhan Mantri Awas Yojana. Infrastructure megaprojects, such as highways, airports, and metro systems, further support the sector's expansion.
In a significant development, KBC Global has secured a $20 million subcontract from CRJE (East Africa) Ltd. CRJE, a prominent player in railways and hospitality construction across Africa, awarded the contract for civil engineering projects through KBC Global's Kenyan subsidiary, Karda International Infrastructure Limited. This contract represents a major milestone for KBC Global, marking its first major foray into the African infrastructure market.
Information
KBC Global Ltd, formerly known as Karda Construction Limited, is a leading real estate company in India. The company focuses on residential and mixed-use projects in Nashik, India, and has made significant advancements in the real estate sector.
CRJE (East Africa) Ltd is a prominent player in railways and hospitality construction across Africa.
Karda International Infrastructure Limited is a Kenyan subsidiary of KBC Global Ltd.
Frequently Asked Questions
Who is the new CEO of KBC Global Ltd?
Mr. Muthusubramanian Hariharan is the new CEO of KBC Global Ltd.
What is the value of the subcontract awarded to KBC Global by CRJE (East Africa) Ltd?
The subcontract is valued at $20 million.
What is the name of KBC Global's Kenyan subsidiary?
Karda International Infrastructure Limited is the Kenyan subsidiary of KBC Global Ltd.
What is the focus of KBC Global's projects in Nashik, India?
KBC Global focuses on residential and mixed-use projects in Nashik, India.
What is the expected growth trend of the Indian real estate sector?
The Indian real estate sector is expected to continue growing, driven by supply and demand dynamics, supportive regulatory frameworks, and government initiatives.
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