Mumbai: State-owned Air India's plan to monetise 105 realty assets to lower its debt burden has received a legup as the national carrier, that had invited bids from real estate consultants , is close to awarding the contract to Jones Lang LaSalle India , said three persons familiar with the development. Air India opened the financial bids last week and based on the financial proposals submitted by four property consultants, JLL has emerged as the leading bidder to bag the contract.
Through this contract, Air India is planning to raise around Rs 5,000 crore over the next 10 years. The national carrier is likely to award the contract in the next two weeks. "Property monetisation target for every year is Rs 500 crore, but this is not a ceiling. The 10-year programme can be shortened based on the realty market cycle and response to the proposals ," said an industry official involved in the process. Top six property consultants had shown interest at technical bids level to execute this property monetisation programme for Air India.
06/11/12 Kailash Babar & Sobia Khan/Economic Times
To Read the News in full at Source, Click the Headline
Through this contract, Air India is planning to raise around Rs 5,000 crore over the next 10 years. The national carrier is likely to award the contract in the next two weeks. "Property monetisation target for every year is Rs 500 crore, but this is not a ceiling. The 10-year programme can be shortened based on the realty market cycle and response to the proposals ," said an industry official involved in the process. Top six property consultants had shown interest at technical bids level to execute this property monetisation programme for Air India.
06/11/12 Kailash Babar & Sobia Khan/Economic Times
