Reliance Industries Limited (RIL), India’s largest public company, has entered into a joint venture with New York-based Vornado Realty Trust, a real estate investment firm. Under the equal JV, each partner will commit up to $250 million to acquire, develop and operate retail shopping centers across key cities in India. The shopping centers will contain [...]
US based Rusell Investments is another global real estate investment company looking to build up Indian exposure. The company has told Reuters that it sees growing markets in China and India withstanding a global downturn. Russell Investments is in the process of raising several funds for Asia, and will invest 8-12 funds funds [...]
As the Reserve Bank of India has been tightening the lending screws on the real estate sector, special purpose vehicles have become a preferred route to raise money for real estate companies from private equity players. “Private equity players find it safer to invest in projects rather than a developer. A lot of developers are [...]
The private equity division Swiss financial major Credit Suisse has invested $100 million (Rs 430 crore) in Hyderabad-based Indu Projects Ltd, an infrastructure and real estate company. A minority stake has been picked up in the company and not in any specific construction projects, reports Times of India. This is one of the few real [...]
Mauritius-registered, India focused private equity fund Frontline Strategy Ltd has picked up a stake in structural engineering products company Krishna Saa Fabs Pvt Ltd for $7 million. The investment has come from the $200 million Industrial Growth Fund (IIGF) of Frontline Strategy Ltd, a Fabiani family office-anchored asset management company, headed by Atim Kabra. Tirupati-based [...]
JPMorgan, the third largest US bank, will invest more than $1 billion in Asian real estate over the next three years, reports Reuters, quoting a senior official from the bank. JP Morgan wants to cash in on a situation where the valuations are becoming realistic in the real estate markets of India and China. The [...]
HDFC Property Ventures, the real estate investment arm of the bank, is picking up a stake in South India’s largest central business district mall in Banglore for $25 million. The 6-lakh sq ft Nitesh Mall, being developed by Nitesh Estates, has an estimated value Rs 300 crore ($75 million). HDFC Property Ventures is expected to [...]
Red Fort Capital, an India focused private equity firm which invests in real estate sector, has acquired a 49 per cent stake in one of the IT park projects of Godrej Properties for an undisclosed sum. The IT park located in Kolkata named ‘Godrej Genesis’ is projected to generate sales of over Rs 750 crore. [...]
Mumbai-based SUN-Apollo Ventures has picked up around 40 per cent stake in a Special Purpose Vehicle (SPV) of Noida-based Amrapali Group, a lesser known real estate group in North India. The stake has been picked up for Rs 300 crore ($75 million), according to a report in The Economic Times.
The SPV is developing a 200-acre [...]
Mumbai-based real estate developer Phoenix Mills Ltd plans to sell up to 30 per cent stake in its hotels arm Phoenix Hospitality Pvt Ltd to private equity investors for about $250 million, reports Reuters, quoting Mahesh Iyer, Chief Financial Officer, Phoenix Mills. The report adds that Phoenix is in talks with about five investors for [...]
Bahrain-based TAIB Bank, through its real estate investment arm Acacia Real Estate, has picked up a 26 per cent stake in Anant Raj Projects for Rs 216 crore ($50.44 million). Anant Raj Projects is the subsidiary of New Delhi-based Anant Raj Industries (ARIL), and this deal puts the valuation of the subsidiary at Rs 831 [...]
Yatra Capital Ltd, the Euronext listed real estate company, has invested $7 million for a 40 per cent stake in Jalan Intercontinental Hotels Pvt Ltd, a company that is building a 200-room business hotel in Kolkata. The hotel will be managed by Indian Hotel Ltd under the Taj Gateway brand.
The hotel will be built on [...]
US financial major JPMorgan Chase & Co is picking up 33 per cent stake in a real estate special purpose vehicle (SPV) of Alok Infrastructure for Rs 150 crore ($35 million). The SPV will develop a real estate project at a prime location in Mumbai as Alok Infra has bought land in several areas [...]
Donald Trump Jr, the executive vice-president of the Trump Organisation, is setting up a $1 billion fund to buy property in India. Trump Jr is betting on the fast growing Indian economy and may create a privately held fund, whose investors could include an Indian family, reports Bloomberg. Trump Jr is the son of United [...]
Bangalore-based Canara Bank is planning to launch a Rs 500 crore ($125 million) venture capital fund, which could be an ambitious target since the fund raising environment is getting tougher. The fund will be the largest one from the bank and will be sector agnostic, accoreding to a report in Business Standard. The bank has [...]
