Japanese group to invest in state real estate sector

Tribune News Service
Chandigarh, August 13

Japan’s leading conglomerate, Softbank Group, on Tuesday shared with Chief Minister Captain Amarinder Singh its plans to invest in Punjab’s real estate sector, with focus on student housing through their flagship OYO startup.

A high-level delegation of the group, led by its MD Hiroki Kimoto, called on the Chief Minister, who extended his government’s full support in the realisation of Softbank’s investment plans in the state.

Captain Amarinder assured the delegation of seamless and smooth investment in the state through its single-window clearance platform, Invest Punjab, in the fast-track mode. The new industrial policy, coupled with lucrative incentives and facilities, was facilitating investors in a big way, with over Rs 50,000 crore investment already realised on the ground during past over two years, he claimed.

Earlier, briefing the delegation on the various projects, ACS, Investment Promotion and Industries & Commerce, Vini Mahajan said Punjab had a vibrant real estate sector, with areas around Chandigarh seeing excellent growth. Punjab has witnessed over Rs 2,000 crore e-auctions over the last two years. “Reputed international players are looking at affordable housing, student and senior citizen housing facility as a potential investment sector,” she added. Lovely Professional University vice chancellor Ashok Mittal said they were in advanced talks with Softbank for a potential collaboration for the construction of student hostels.

New industrial policy aiding investors: CM 

Capt Amarinder SIngh assured the delegation of seamless and smooth investment in the state through its single-window clearance platform, Invest Punjab. The new industrial policy was facilitating investors in a big way, with over Rs 50,000-crore investment already realised on the ground during past over two years, he claimed.