MUMBAI: Morgan Stanley Real Estate says it has partnered with Aparna group in a joint venture to develop realty projects in Nalagandla near Hyderabad.The two companies will have an equal stake in the new entity.Aparna Laketown, spread over 12 million sq ft, will comprise high-end housing and a commercial project with an integrated retail and entertainment complex along with a branded hotel, a press release said here.

The partnership would allow the Aparna Group to capitalize on development opportunities in the Hyderabad market by leveraging Morgan Stanley Real Estate's global franchise, knowledge and relationships to bring international standard developments to the local market, it said.The Group has delivered around 2-million sq ft of projects through villas, premium apartments, middle-income housings and commercial development and is currently executing a total of 7.5 million sq ft of development.