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Singapore Firm's Iconic Towers in Amaravati
By: Tupaki Desk | 20 Sep 2015 8:30 AM GMT
Chief Minister Chandrababu Naidu will be leaving to Singapore Today to finalise the modalities of agreement with one among the two Singapore firms (Ascendas and Semcorp) to built the core capital city of the proposed AP new Capital.
Both the firms Ascendas and Semcorp were owned by Singapore Government. They have been bargaining with AP Government to fulfill their business interests in about 3,000 acres in core city area for taking part in the development process.
One among these two Singapore Firms will construct Government buildings in 375 acres of land and develop Iconic Towers in another 250 acres. They want these 250 acres free of cost with exemption of stamp duty so that they could sell 20 lakh square feet space in Iconic Towers to private companies.
A joint venture agreement will be signed between AP Government and Ascendas or Semcorp once if both the parties agree to terms & conditions. Ascendas promised to complete the First Phase of AP Capital by October 2018 if the deal was finalised.
Both the firms Ascendas and Semcorp were owned by Singapore Government. They have been bargaining with AP Government to fulfill their business interests in about 3,000 acres in core city area for taking part in the development process.
One among these two Singapore Firms will construct Government buildings in 375 acres of land and develop Iconic Towers in another 250 acres. They want these 250 acres free of cost with exemption of stamp duty so that they could sell 20 lakh square feet space in Iconic Towers to private companies.
A joint venture agreement will be signed between AP Government and Ascendas or Semcorp once if both the parties agree to terms & conditions. Ascendas promised to complete the First Phase of AP Capital by October 2018 if the deal was finalised.
