Gulf venture to pump $5 bn into India realty (Hindustan Times via Yahoo! India News)

RAKEEN, A global firm promoted by the Government of Ras-Al-Khaimah-United Arab Emirates, has entered into a joint venture with Chennai-based mineral conglomerate Trimex Group to pump in $5 billion into the Indian real estate sector over the next five years. The investment would be done through their Chennai-based joint-venture company Rakindo Developers.