KBC Global Ltd Launches New Construction Project in Deolali, Nashik
Nashik, Maharashtra – October 7, 2024 – KBC Global Ltd, a leading construction and real estate firm, has announced the commencement of a new project in Deolali, Nashik. The project, located at Survey No. 87/2/2B, Plot No. 4, on Jai Bhavani Road, covers a
Kbc Global LtdReal EstateConstructionDeolaliNashikReal Estate MaharashtraOct 07, 2024
KBC Global has assured investors and stakeholders that further details about the project will be shared as soon as all necessary approvals are obtained. This commitment to transparency and detailed planning is a hallmark of the company's approach to development.
Simultaneously, KBC Global Ltd is making significant strides on the international front. The company recently signed a Memorandum of Understanding (MOU) with its subsidiary, KBC International Ltd., and the Liberia Special Economic Zone (SEZ) Authority. This $12.5 million project is set to include residential complexes, low-cost housing, and commercial spaces within Liberia's SEZ. The groundbreaking for this project is scheduled for the second quarter of 2025, with an anticipated completion date within three years. This venture aims to provide much-needed residential and commercial solutions in the Liberian SEZ, thereby fostering economic growth and development in the region.
The MOU with the Liberia SEZ Authority is a testament to KBC Global's ambition to not only develop but also create economic opportunities across Africa. In a similar vein, KBC signed a $20 million civil engineering contract with CRJE (East Africa) Ltd, a part of the China Railway Construction Group, in June 2024. This collaboration further solidifies KBC’s presence in the global market, known for its significant infrastructure projects across Africa.
Financially, KBC Global has demonstrated a strong commitment to maintaining fiscal responsibility. In September, the company fulfilled a crucial payment obligation to Capri Global Capital Ltd., highlighting its dedication to financial recovery and stability. Additionally, KBC signed an MOU with Capri Global to waive non-financial penal interest, reducing the outstanding balance to ₹13.50 crore. This financial agreement strengthens KBC’s foundation, enabling the company to focus on ongoing projects such as Hari Vasant and Hari Aakruti Phase II in Nashik.
Founded in 2007, KBC Global Ltd has been a significant part of Nashik's real estate landscape, known for its impressive portfolio of both residential and commercial projects. The recent announcement of the Deolali project, along with the successful handover of 125 residential and commercial units in 2024, demonstrates the company's commitment to growth and reliability. KBC Global's steady progress in completing and delivering projects in its home city is a testament to its reliability and dedication to quality.
In July 2024, KBC Global took another crucial step by appointing Mr. Muthusubramanian Hariharan as the Executive Director and CEO. Mr. Hariharan's expertise in business development is expected to enhance KBC’s strategic vision and provide focused leadership as the company navigates its ambitious expansion plans. Under his guidance, KBC Global is likely to continue its commitment to quality and sustainable development, ensuring a long-term impact both in India and beyond.
With these projects, KBC Global Ltd reasserts its role as a significant contributor to the construction industry, driving economic growth and creating meaningful infrastructure both domestically and internationally. The company's journey, marked by strategic partnerships, fiscal responsibility, and high-quality projects, underscores its mission to create valuable spaces that improve communities. As KBC Global looks to the future, its commitment to growth, quality, and innovation remains at the forefront, positioning the company as a trusted name in the real estate and construction sectors.
Frequently Asked Questions
Where is the new KBC Global project located?
The new KBC Global project is located at Survey No. 87/2/2B, Plot No. 4, on Jai Bhavani Road in Deolali, Nashik.
What does the new project in Deolali include?
The new project includes both residential and commercial spaces, with six commercial units and twenty-two residential units.
What is the size of the new project?
The new project spans over 31,998 square feet.
What international initiatives is KBC Global involved in?
KBC Global is involved in a $12.5 million project in Liberia's SEZ and a $20 million civil engineering contract with CRJE (East Africa) Ltd in Africa.
Who is the new Executive Director and CEO of KBC Global?
The new Executive Director and CEO of KBC Global is Mr. Muthusubramanian Hariharan.
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