VMPL
Nashik (Maharashtra) [India], October 7: KBC Global Ltd, a major player in construction and real estate, has announced the commencement of a new project in Deolali, Nashik. The project, located at Survey No. 87/2/2B, Plot No. 4, on Jai Bhavani Road, is set to span over a 31,998 sq. ft. area and includes both residential and commercial spaces. With six commercial units and twenty-two residential units, this project reinforces KBC Global's commitment to supporting the local community through thoughtfully planned infrastructure. The company has assured investors and stakeholders that further details will be shared upon receiving requisite approvals.
Simultaneously, KBC Global Ltd continues to make strides internationally. The company recently signed a Memorandum of Understanding (MOU) between its subsidiary, KBC International Ltd., and the Liberia Special Economic Zone Authority. This USD 12.5 million project marks an essential phase in KBC Global's international ventures, promising residential complexes, low-cost housing, and commercial spaces within Liberia's SEZ. The groundbreaking for this venture is scheduled for Q2 of 2025, with the anticipated completion date within three years, offering much-needed residential and commercial solutions in the Liberian SEZ.
The MOU with Liberia SEZ Authority showcases KBC Global's ambitions to not only develop but also create economic opportunities across Africa. In a similar vein, KBC's previous engagement in June 2024 involved a USD 20 million civil engineering contract with CRJE (East Africa) Ltd, part of the China Railway Construction Group. Known for its significant infrastructure projects across Africa, CRJE's collaboration with KBC further elevates the company's footprint in the global market.
Financially, KBC Global Ltd has shown a solid commitment to maintaining fiscal responsibility. In September, the company announced it had fulfilled a crucial payment obligation to Capri Global Capital Ltd., a move that underscores its dedication to financial recovery and stability. Additionally, KBC secured an MOU with Capri Global to waive non-financial penal interest, bringing the outstanding balance with Capri to Rs13.50 crore. This agreement bolsters KBC's financial foundation, positioning it for continued growth and aiding ongoing projects like Hari Vasant and Hari Aakruti Phase II in Nashik.
Founded in 2007, KBC Global Ltd has long been an integral part of Nashik's real estate landscape, with an impressive portfolio of both residential and commercial projects. The recent announcement of the Deolali project, combined with a steady handover of units from other projects, demonstrates the company's commitment to growth in its home city. To date, KBC Global has successfully handed over 125 residential and commercial units in 2024 alone, marking a year of consistent progress and reliability.
In July 2024, the company took another crucial step by appointing Mr. Muthusubramanian Hariharan as Executive Director and CEO. His expertise in business development is expected to enhance KBC's strategic vision and provide focused leadership as the company navigates its ambitious global and domestic expansion plans. Under Mr. Hariharan's guidance, KBC Global Ltd will likely continue its commitment to quality and sustainable development, ensuring a long-term impact both in India and beyond.
With these projects, KBC Global Ltd reaffirms its role as a significant contributor to the construction industry, driving economic growth and creating meaningful infrastructure both domestically and internationally. The company's journey thus far, marked by strategic partnerships, fiscal responsibility, and high-quality projects, speaks to its enduring mission of creating valuable spaces that improve communities. As KBC Global looks to the future, its commitment to growth, quality, and innovation remains at the forefront, positioning the company as a trusted name in the real estate and construction sectors.
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