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MK Land seeks cheap loans for Bangalore project.
Byline: Ooi Tee Ching
PROPERTY developer MK Land Holdings Bhd is seeking cheap loans from Exim Bank to develop affordable housing in northern Bangalore with India's Embassy Group.
The project, with gross development value of around RM4 billion, is set to be undertaken by MK Embassy Land Sdn Bhd, in which MK Land and Embassy Group hold 47.5 per cent each while MKN Embassy Development Sdn Bhd has 5 per cent.
"I hold a 5 per cent stake in the project. We have been invited by our partner Embassy Group to replicate the low-medium-cost model of Damansara Damai in Bangalore," executive chairman Tan Sri Mustapha Kamal Abu Bakar said.
"The joint-venture …
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