RIL sets up $1 b realty fund with US biggie Vornado
Source: The Economic Times Co Also In Talks With Canada's Four Seasons & France's Accor To Set Up Hotels Chaitali Chakravarty & Boby Kurian NEW DELHI/BANGALORE I N WHAT could be mark the beginning of Reliance Industries' foray into real estate and hospitality, the Indian conglomerate has sealed a Si-billion joint venture with the New York Stock Exchange-listed Vornado Realty Trust to set up a real estate fund that will develop a network of mega malls and highway shopping centres in India, not just for Reliance Retail (RRL) but also for others. Reliance is also in talks with the Canada-based Four Seasons Hotels and French group Accor to set up hotels at some of its properties in Mumbai and Ahmedabad. The RRL spokesperson, however, declined to comment. The joint venture with Vornado (ET reported about the two being in exploratory talks in February) is Reliance's fifth global partnership in three months�the other four being with Marks & Spencer, Vision Express,