RIRIC selects Jones Lang LaSalle as Real Estate Advisor for USD $9 Billion 'Smart City' in Bangalore
Asia's largest real-estate development, Royal Garden City, becomes the new model for Indian city developments — the country's first 'Smart City' begins construction in Bangalore.
VANCOUVER — Royal Indian Raj International Corporation (RIRIC) today announced it has selected Jones Lang LaSalle (JLL) — the world's leading real estate services and money-management firm — as exclusive real-estate advisor for Royal Garden City, a USD $9 billion master-planned 'Smart City' on the outskirts of Bangalore.
Royal Garden City is set to become Asia's largest real-estate development and the new model for Indian city building. The 3,000-acre Phase 1 includes 145 million sq. ft. of built space, 35,000 residential units, and full commercial, industrial, educational and civic districts — all delivered as a modern, Web-enabled 'Smart City' with captive power, water and sewage treatment, and advanced harvesting and recycling systems.
"Selecting JLL signals to the institutional investment community that Royal Garden City is built to international standards from the ground up," said RIRIC Chairman and CEO Manoj C. Benjamin.
Construction begins in early 2005 with phased completion through 2015. Three additional RIRIC integrated-township programs are planned for Mumbai, Delhi and Kolkata.