Newcastle real estate specialist to invest £150m in overseas development
A Newcastle real estate developer has revealed its plans to invest £150m in a new Punjabi development.
Malhotra Group, which operates across leisure, care and developments, will create approximately 2,000 jobs with the construction of 11 towers.
Meenu Malhotra, chair and founder of the company, has owned the 12 to 15 acre site in Ludhiana for a number of years, and is now making one of the largest investments in the North East company’s history.
Meenu Malhotra commented: “I have always referred to Newcastle as my adopted home and am very grateful to the people of the North East for their continued support.
“But at the same time I have always been a patriotic Indian, proud Punjabi and my home town of Ludhiana remains very close to my heart.
“I believe this is a fantastic opportunity for the area and I have been delighted by the encouragement and support we’ve had from the Punjab Government who have welcomed the project and the mega investment we are making.”
It will provide much needed job creation and personally will give me the opportunity to share my passion mentoring SMEs, assisting start-ups and little angels, which I’ve done for many years in the UK.“
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular North East morning email for free.