Malaysian major Haneda Enters India, JV with Rajathi Group

Malaysia based M/s. Haneda Trading & Construction Sdn Bhd and the Chennai Rajathi Group recently announced the launch of their joint venture ‘Haneda Rajathi’; the new venture will step into developing large size commercial and residential properties across Chennai and South India. The order book stands at over Rs.500 crores which includes the 15 new hotel properties to be developed for the Breeze hotel.

With a clear focus on introducing international quality in its construction practice Haneda Rajathi has sizeable project order book with projects spread across Chennai, Coimbatore, Tuticorin, Sriperumbadur, Ramanathapuram and Rameswaram. In Chennai the current projects are in infra for an engineering college, Residential project in Thalambur, IT complex at Shollinganallur, Commercial complex at Nungambakkam and Guindy and façade work. Part of the mandate is to undertake the construction of 15 commercial hotels for the Chennai based Breeze hotels with the project valued at over Rs.500 crores. The pilot project, Lake View in Coimbatore is nearing completion.

Commenting on this joint venture, Mr. Madan Prakash, Joint Managing Director, Rajathi Group said “Haneda has the experience of being in this business for the past 30 years. Their practice of the Japanese culture and systems provide for innovative systems, high quality, and shorter construction period which brings down the time to construct very drastically.”

Adding to this Mr. Ratherkrishnan, Managing Director, Haneda Rajathi said, “This alliance with the Rajathi Group will give us the opportunity to break into the Indian market; with the Rajathi Group expanding into real estate in a big way we see tremendous synergies in our business partnership. We hope to bring in several innovations and global practices to the Indian Market.”

The USD 110 million Rajathi Group ventured into the Realty business in 2005 and initially developed large land banks in parts of Chennai. They later ventured into construction of residential complexes at Coimbatore – Mettupalayam highway to develop and promote a large residential township.