Main || FDI/Investment

April 06, 2008

Trikona TC extends its partnership with German fund manager | INRnews

London, UK, April 01, 2008 - Trikona Trinity Capital PLC (AIM: TRC), a fund created for investing in Indian real estate and infrastructure, and managed by Trikona Capital, extends its strategic partnership with SachsenFonds Holdings GmbH ("SF"), a leading German fund manager with €4.7 billion of assets under management, by signing a Memorandum of Understanding (MoU) with a transaction value worth approximately £80 million. Under the terms of the MoU, SF will acquire certain assets from Trikona TC and co-invest in new projects.

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April 03, 2008

REITs To Grow Globally At US$ 1400 Bln.: ASSOCHAM-CRISIL | INRnews

Mumbai, India, April 03, 2008 - The Real Estate Investment Trusts (REITs) would have potential to hold at least 5% share of the total global real estate market by 2010, the size of which would turn to US$ 1400 billion in next 3 years, according to joint Paper prepared by the ASSOCHAM and CRISIL.

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March 31, 2008

Construction starts on Eredene Capital’s low-income mass housing project near Mumbai | INRnews

Mumbai, India, March 31, 2008 – Eredene Capital PLC (AIM: ERE), the AIM quoted investor in Indian infrastructure and real estate, today announces that construction has begun on its joint venture low-income housing project near Mumbai following a ground breaking ceremony at the first of its greenfield sites. This is the first phase in the planned construction of approximately 185,000 affordable homes within commuting distance of the city over the next 10 years.

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January 22, 2008

UK wants to be a genuine partner in developing India's Infrastructure | INRnews

New Delhi, India, January 22,2008 - Speaking at the inaugural session of the UK-India Infrastructure Conclave on January 16, organized by the Confederation of Indian Industry (CII) and UK Trade and Investment (UKTI), in Delhi, Digby, Lord Jones of Birmingham, UK Minister for Trade and Investment said that his country wants to be a genuine partner in developing India's infrastructure and not just a contractor. Given India's rising stature in the global sphere, he also endorsed India's membership of the UN Security Council and the G-8. He said that several British companies such as Bombardier and Mott McDonald are already engaged in developing India's infrastructure. He projected UK as an attractive and open global financial centre, ready to share its expertise and participate in India's PPP ventures in the infrastructure sector.

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Deutsche Bank arm makes $70 mn Indian real estate investment | INRnews

Mumbai, India, January 22, 2008 - RREEF, the global alternative investment management business of Deutsche Bank, advised by Deutsche Asset Management (India) Pvt Ltd, has made its first real estate investment in India. RREEF has substantially completed the purchase of an undisclosed stake in Bangalore and Hyderabad-based real estate development company, Golden Gate Properties Ltd, for US$ 70 mn (Rs. 2735 mn).

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KNR Const IPO opens on Jan 24, price band Rs 170-180/share | INRnews

Mumbai, India, January 22, 2008 - KNR Constructions Limited (the "Company"), an infrastructure project development company, will enter the capital market soon with an Initial Public Offering ("IPO") of 7,874,570 equity shares of Rs 10 each for cash at a price ("Equity Shares") to be decided through a 100% book-building process. The Bid/ Issue opens for subscription on January 24, 2008 , and closes on January 29, 2008 . The Price Band has been fixed between Rs 170 and Rs 180 per Equity Share.

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Emaar MGF Land Limited IPO opens on February 01, 2008 | INRnews

Mumbai, India, January 22, 2008 - Emaar MGF Land Limited (“Emaar MGF” or the “Company”), a joint venture between one of the world’s leading real estate companies, Emaar Properties PJSC of Dubai, and MGF Development Limited of India, is entering the capital market with an initial public offering (“IPO”) of 102,570,623 equity shares of face value Rs 10 each for cash at a price (“Equity Shares”) to be determined through a 100% book building issue.

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January 21, 2008

India invites UK investment in infrastructure | INRnews

New Delhi, India, January 21, 2008 - India is seeking investments from UK in the areas like highway projects, bridges, expressways, ports, power generation, water plants, water management techniques. This was conveyed by Shri Kamal Nath, Union Minister of Commerce and Industry, during the India-UK CEOs Round Table, here today, and added that so far investments from UK was mainly from the sectors such as telecom, chemicals, fuels, service sector etc. The Round Table was attended by Lord Digby Jones, UK Minister of State for Trade and Investment and Dr. Ashwani Kumar, Minister of State for Industry, besides senior officials from both the countries.

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SEBI proposes draft regulations for REITS for public comments | INRnews

Mumbai, India, January 21, 2008 - In recent years, India's real estate business has seen significant expansion, underpinned by rapid economic growth coupled with a series of IPOs by real estate companies.  Changing demographics, rising levels of foreign investment, a vibrant services sector powered by the IT sector and buoyant exports are the major contributors for India’s rapid GDP growth. The GDP growth and corporates' growing scale of operations have led to greater demand for commercial space, including modern offices, warehouses, lodging facilities and operational infrastructure. It has also boosted housing demand. Moreover, improved access to housing finance has boosted the demand for residential property. Over the last few years, modern real estate development and some investor interest has spread beyond metros and large cities.

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$150 million Pragnya Fund 2 to focus on South realty and hospitality projects | INRnews

Chennai, India, January 21, 2008 - Pragnya, a private equity fund, is to launch a $150 million fund "Pragnya Fund 2" focused on real estate and hospitality projects in South India.

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Trikona Trinity Capital gets SEZ status for Delhi IT Park | INRnews

New Delhi, India, January 21, 2008 - Trikona Trinity Capital PLC (AIM: TRC), a fund created for investing in real estate and real estate related entities across India, has announced that the Board of Approval in India conferred IT Special Economic Zone ("SEZ") status upon the Company's Uppal IT Park "Tech Oasis" (Development Project 1) on 16th January 2008.

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January 16, 2008

J. Kumar Infraprojects IPO opens on Jan 18 | INRnews

Mumbai, India, January 16, 2008 -  J. Kumar Infraprojects Limited ("JKIL" or the "Company"), a civil engineering and infrastructure development company with a primary focus on development of roads, flyovers, bridges, railway over bridges, irrigation projects, commercial and residential buildings, railway buildings, sports complexes and airport contracts, is entering the capital market with an Initial Public Offering ("IPO") of 65,00,000 equity shares of Rs 10 each for cash at a price ("Equity Shares") to be decided through a 100% Book-Building Process. The Bid/Issue opens on January 18, 2008 , and closes on January 23, 2008 . The Company has fixed the Price Band between Rs 110 and Rs 120 per Equity Share.

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January 10, 2008

Unitech to list UOT in Singapore | INRnews

Mumbai, India, January 10, 2008 - Unitech Ltd has announced that Unitech office Trust ("UOT") (a business trust proposed to be formed and registered under the laws of Singapore) is contemplating offer of its units for subscription by the investors, including the public in Singapore, by way of an initial public offering in Singapore ("IPO"), which is proposed to be listed on the Main Board of Singapore Exchange Securities Trading Ltd ("SGX-ST"). In pursuance of the aforesaid, SGX-ST has granted the 'Eligibility to list' to UOT on January [09], 2008, subject to the conditions specified therein.

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January 09, 2008

Dev Property Development eyes £114 million sale of development projects in Mumbai | INRnews

Mumbai, India, January 09, 2008 - Dev Property Development plc (AIM: DPD), a company investing in Indian real estate, today announces that it has sent a circular to shareholders convening an extraordinary general meeting (EGM) on 25 January 2008. The purpose of the EGM will be to seek shareholder consent for the disposal of Dev's interests in two of its three development projects for a total minimum consideration of £114 million (the Minimum Consideration).

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January 02, 2008

IRB Infra gets SEBI go ahead, IPO by 3rd week | INRnews

Hyderabad, India, January 02, 2008 - Mumbai-based IRB Infrastructure Developers Limited, an infrastructure development and construction company in India with significant experience in the roads and highways sector, has received SEBI observations for its public issue of 51,057,666 Equity shares of Rs 10 each through 100% book building process.

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Ramky Infrastructure Limited files DRHP with the SEBI | INRnews

Mumbai, India, January 02, 2008 - Ramky Infrastructure Limited (the “Company”), an integrated construction, infrastructure development and management company in India with a strategic emphasis on environmental oriented projects, has filed its Draft Red Herring Prospectus (“DRHP”) with the Securities & Exchange Board of India (“SEBI”) to enter the capital market soon with an Initial Public Offering (“IPO”) of equity shares of Rs 10 each for cash at a price (“Equity Shares”) to be decided through a 100% book-building process and aggregating to Rs 4,000 million.

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December 28, 2007

Hirco publishes annual report, sees strong growth in Indian real estate | INRnews

London, UK, December 28, 2007 – Hirco PLC (AIM: HRCO), the investment vehicle for Hiranandani, India’s largest developer of prestigious mixed-use townships, today announced that it has published its Annual Report and Accounts for the period ended 30 September 2007.

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December 21, 2007

Eredene Capital PLC invests in logistics centres in NCR, Uttaranchal and Punjab | INRnews

London, UK, December 21, 2007 - Eredene Capital PLC (AIM: ERE), the AIM quoted Indian property developer, today announces that its wholly owned subsidiary Bandra Mauritius Limited (together “the Eredene Group”) has agreed to invest up to INR 854 million (£11 million) in a £26 million project to build and operate three multi-user logistics centres in a ‘hub and spoke’ model on 28 acres of land in Northern India.

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December 18, 2007

Pride Hotel gears up for expansion of Rs. 340 Crores | INRnews

Mumbai, India, December 18, 2007 - Pride Hotels announced today, that it has received a significant investment from Kotak India Real Estate Fund towards part financing of its Rs. 340 crore expansion-cum-renovation plan.

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December 17, 2007

DS Kulkarni and GTC Real Estate NV to develop 250-acre SEZ in Pune | INRnews

Pune, India, December 17, 2007 - DS Kulkarni Developers Ltd has announced that the Board of Directors of the Company at its meeting held on December 15, 2007, has approved the Term Sheet executed last month between the Company and GTC Real Estate NV for Joint Development of a 250-acre Multi Services SEZ at Pune.

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December 16, 2007

Fishman to invest $2B in a 4 million square meter township project in Jaipur, India | INRnews

Jerusalem, Israel, December 16, 2007 - Mondon Investments, the Indian real estate development subsidiary of Israeli firm Fishman Holdings recently purchased a 600-acre lot in Jaipur, India for $108 million.

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December 13, 2007

Banks, Fls buy 9% in GMR Infra for $1 billion | INRnews

Mumbai, India, December 13, 2007 - A CLUTCH of domestic banks and foreign financial investors has picked up around 9% stake in GMR Infrastructure, the flagship company of GMR Group, for around $1 billion, through a qualified institutional placement (QIP) the largest among such recent deals.

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Red Fort Capital to float domestic realty fund | INRnews

New Delhi, India, December 13, 2007 - New Delhi-based realty funding company Red Fort Capital Advisors Pvt Ltd will float a Rs.8-billion fund to finance real estate development projects in India.

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December 12, 2007

GMR Infrastructure Limited QIP Issue Oversubscribed | INRnews

New Delhi, India, December 12, 2007 - GMR Infrastructure Limited approved the issue of 165,238,088 equity shares of Rs 2/- each at the Issue Price of Rs. 240 per equity share aggregating to an Issue size of Rs. 39,657.1 million under Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 (the “SEBI Guidelines”). The Issue Price is above the floor price calculated in accordance with clause 13A.3 of the SEBI Guidelines. Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited, JM Financial Consultants Private Limited, J.P Morgan India Private Limited, Lehman Brothers Securities Private Limited, UBS Securities India Private Limited acted as the Global Coordinators and Book Running Lead Managers for the Issue.

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Red Fort Capital to invest $100 million in Chennai real estate projects | INRnews

Chennai, India, December 12, 2007 - Red Fort Capital, one of India's leading international private equity real estate firms, will be investing $100 million in Chennai over a period of six months. The investment will be across low to high end residential and hospitality projects. Red Fort Capital has kicked off its activities in Chennai by acquiring residential land in close proximity to Ambattur, an emerging IT hub.

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December 07, 2007

Energy Sector requires $500 billion worth of investment during the 11th five year plan period | INRnews

Ahmedabad, India, December 07, 2007 - The Indian power sector group companies have achieved 154 percent growth in market capitalization indicating phenomenal amount of investor's confidence said Chief Guest, Mr R V Shahi, Former Secretary, Ministry of Power, Government of India, while addressing at India Energy Conclave 2007, organized  concurrent with  3 day long 3rd International Exhibition – "Energy Expo 2007"  by CII in Ahmedabad

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December 05, 2007

Ishaan Real Estate PLC half year report | INRnews

Mumbai, India, December 05, 2007 - Ishaan Real Estate plc has released an interim report for the six months ended 30 September 2007. The key highlight is completion of 100% of investment in the initial portfolio with £133.2 million invested in eight projects across Mumbai, Hyderabad, Pune and Bangalore.

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December 04, 2007

Prudential Financial & DLF Ltd form Asset Management JV | INRnews

New Delhi, India, December 04, 2007 - U.S.-based Prudential Financial, Inc (PFI) and the DLF Group, India's largest real estate developer, today announced that they have signed an agreement to establish a joint venture company in India, subject to regulatory approval.  PFI, the financial services leader with approximately $637 billion of assets under management as of September 30, 2007, was the world's 14th largest institutional asset manager based on worldwide assets under management, as ranked by Pensions & Investments, US trade publication, as of Dec 31st, 2006.

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November 29, 2007

Vatika group gets $250 million foreign investment | INRnews

Mumbai, India, November 29, 2007 - Leading realty and hospitality group Vatika Thursday said here that it had signed an agreement with global investment bank Goldman Sach, US-based private equity investors Wachovia Bank and Baer Capital for an investment of $250 million for new acquisitions and projects across the country.

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3i India Infra Fund to invest US$101m in Soma Enterprise | INRnews

Hyderabad, India, November 29, 2007 - 3i India Infrastructure Fund (the “Fund”), an investment fund established by 3i Group plc (“3i”), a leading global private equity and venture capital company, has invested US$101 million for a minority stake in Soma Enterprise Limited (“Soma”), a Hyderabad-based engineering and construction firm. Company director Ankineedu Maganti and his family will maintain a large majority stake in the business.

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November 28, 2007

Global capital finds investment in Indian real estate lucrative | INRnews

New Delhi, India, November 28, 2007 - Investment transactions world-wide have hit a record high of $600bn in 2006 confirming the insatiable appetite from investors for real estate. The real estate market is still characterised by a surplus of capital says real estate services firm DTZ. As per DTZ estimates, at present there is $4 of capital chasing every $1 of investment product. Ambar Maheshwari, director of DTZ's investment advisory team in India says: “The corresponding ratio of capital chasing investment product in India is even more startling and is anywhere between $8 to $1 and $10 to $1. The growth momentum in the Indian real estate capital so far is remarkable, especially in the private equity and debt markets.”

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November 23, 2007

Cordea Savills, Nichani Group launch real estate fund mgmnt | INRnews

Mumbai, India, November 23, 2007 - Cordea Savills, an international property fund manager, and the Nichani Group, an established Indian family business, have today launched a joint venture, which will provide fund products that will give investors access to one of the world’s largest and fastest growing economies. The joint venture’s first product is Cordea Nichani Indian Opportunities No.1, which offers access to land and development opportunities in high growth regions of India targeting net returns of 25% per annum.

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India needs $475 bn infrastructure investment in five years to support growth | INRnews

New Delhi, India, November 23, 2007 - India needs an investment of $ 475 billion in infrastructure in the next five years to support 9% growth of which $120 – 130 billion of the investment requirement would come from foreign investment, said Mr. P Chidambaram, Union Minister of Finance, at  an interactive session with Mr. Arni Mathiesen, Minister of Finance, Iceland, organised by the Confederation of Indian Industry (CII), here on Friday.

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November 20, 2007

DLF invites Private Equity players to its middle income homes business | INRnews

New Delhi, India, November 20, 2007 - DLF Ltd has announced that the Company has attracted participation of private equity real estate funds in its township projects by diluting 49% equity stake at a premium, in seven residential projects to a Merrill Lynch & Co entity for a consideration of Rs 1481 crore.

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Gulf Finance House to invest over US$ 2 billion in Mumbai | INRnews

Mumbai, India, November 20, 2007 - Bahrain-based Gulf Finance House (GFH) is investing over US$ 2 billion in a green field site close to Navi Mumbai, near to the commercial capital's airport. GFH has already raised US$ 630 million towards the initial development and infrastructure requirements of the project.

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November 16, 2007

ICICI Prudential MF launches Real Estate Securities Fund | INRnews

Mumbai, India, November 16, 2007 - ICICI Prudential AMC today announced the launch of ICICI Prudential Real Estate Securities Fund (The scheme will not be directly owning or holding Real estate properties.). The fund is a 3 year close ended debt fund designed to invest in real estate sector and real estate oriented sectors like cement, construction, metals, hotels, retail, banks and finance companies etc.

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November 12, 2007

UTI MF launches UTI- Infrastructure Advantage Fund-Series I | INRnews

Mumbai, India, November 12, 2007 - UTI Mutual Fund today announced the launch of a new scheme, UTI-Infrastructure Advantage Fund-Series I.  The new fund offer (NFO) opens on November 12, 2007 and closes on December 19, 2007. Units can be purchased only during the NFO period.

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November 05, 2007

Eredene Capital PLC in JV to develop a 72-acre logistics park in Haldia | INRnews

London, UK, November 05, 2007 - Eredene Capital PLC (AIM: ERE), the AIM quoted Indian property developer, today announces that its wholly owned subsidiary Aboyne Mauritius Limited (together “the Eredene Group”) has acquired a 50% stake in a joint venture company to develop a planned 72-acre integrated logistics park in Haldia, West Bengal, which is a growing trading port and commercial hub for the East Indian city of Kolkata (formerly Calcutta).

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Clear Water Capital Partners takes 49% stake in BSEL Infra SPV | INRnews

Mumbai, India, November 05, 2007 - BSEL Infrastructure Realty Ltd has announced that Clear Water Capital Partners (Cyprus) Ltd has taken 49% stake in the SPV Company formed by BSEL Infrastructure Realty Ltd in equal Joint Venture with Unity Realty and Developers Ltd and Kamat hotels (India) Ltd. The same has resulted in dilution of present stake of BSEL Infrastructure Realty Ltd, Unity Realty and Developers Ltd and Kamat hotels (India) Ltd in the said SPV from 33.33% each to 17% each.

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November 01, 2007

MARG Constructions forges association with Pembinaan Redzai of Malaysia | INRnews

Mumbai, India, November 01, 2007 - Karaikal Port Private Ltd (KPPL), a wholly owned subsidiary of MARG Constructions Ltd signed a Memorandum of Understanding with Pembinaan Redzai Sdn Bhd, a leading Malaysian entity, to explore potential co-operation on a variety of areas for the Karaikal Port project.

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October 30, 2007

Tata Realty & Infrastructure to raise $750 mn | INRnews

Mumbai, India, October 30, 2007 - Tata Realty and Infrastructure, a 100-per cent subsidiary of Tata Sons, is to raise $750 million (Rs3,000 crore) to fund realty and infrastructure projects. 

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Tata Realty And Infrastructure Limited (TRIL) and Jafza International form a joint venture | INRnews

Mumbai, India, October 30, 2007 - Tata Realty And Infrastructure Limited (TRIL), a 100-per cent subsidiary of Tata Sons, today signed a 50:50 joint venture with Jafza International, the global operation arm of Economic Zones World of Dubai UAE to develop and operate a chain of business and logistics parks across India.

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October 29, 2007

Trikona Trinity Capital PLC invests in South Indian real estate projects | INRNews

London, UK, October 29, 2007 - Trikona Trinity Capital PLC (AIM: TRC) managed by Trikona Capital Limited, a fund created for investing in real estate and real estate related entities across India, is pleased to announce the £3.1m* second tranche of investment in its retail, commercial and residential initiative in Hyderabad, South India.

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October 25, 2007

Hirco Invests £96.6 Million to develop Panvel township in Mumbai Metropolitan Region | INRnews

London, UK, October 25, 2007 - Hirco Plc (AIM:HRCO.L), the investment vehicle for Hiranandani, India’s largest developer of prestigious mixed-use townships, today announced that it has invested £96.6 million in a Residential Township (“Panvel Residential”) development project located in Panvel, in the Mumbai Metropolitan Region of India.

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October 18, 2007

Noida Toll Bridge Company Limited announces half-yearly results | INRnews

London, UK, October 18, 2007 - The Board of Directors of Noida Toll Bridge Company Limited (NTBCL) approved the Company’s audited results for the half year / quarter ended September 30, 2007, today. NTBCL, the Concessionaire for the Delhi Noida Toll Bridge, has reported a net profit after tax of Rs. 81.83 million for the quarter ended September 30, 2007 as against Rs. 21.45 million for the corresponding quarter of the previous year.

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October 09, 2007

CCEA approves $250 million FDI in SKIL Infrastructure | INRnews

New Delhi, India, October 09, 2007 - The Cabinet Committee on Economic Affairs today gave its approval for M/s. SKIL Infrastructure Ltd., Mumbai to accept foreign investments from M/s. GL Asia Mauritius II Ltd., Mauritius upto 26% amounting to US$250 million (Approx.Rs.1000 crore) by way of issue of 1 lakh interest accruing secured convertible debentures of Rs.1 lakh each for making downstream investments in M/s. Mumbai SEZ Ltd., M/s. Navi Mumbai SEZ Ltd.,  M/s. Pipavav Shipyard Ltd., M/s. SKIL Himachal Infrastructure and Tourism Ltd., M/s. Gujarat Positra Port Company Ltd. and M/s. Logistics Project; or in such other projects which are compliant with the Foreign Direct Investment policy of the Government of India.

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October 08, 2007

Eredene Capital PLC invests in a container freight station at Pipavav port in Gujarat | INRnews

London, UK, October 08, 2007 - Eredene Capital PLC (AIM: ERE), the AIM quoted Indian Property Developer, today announced that its wholly-owned subsidiary Aboyne Mauritius Limited (together the “Eredene Group”) has acquired a major stake in a Container Freight Station (CFS) to serve the Indian port of Pipavav. This is the Eredene Group’s second real estate investment in a CFS in India, where there is rising demand for container service facilities, and its third investment since shareholder approval of its broadened investment strategy.

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October 03, 2007

DLF to develop New Bangalore City township in Bidadi | INRnews

Bangalore, India, October 03, 2007 - As per the announcement made by Karnataka government spokesperson, DLF has been awarded a project to develop  'New Bangalore City' in Bidadi following a global tender issued by Bangalore Metropolitan Regional Development Authority (BMRDA).

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October 01, 2007

Ishaan Real Estate Plc secures pre-letting agreement for Mindspace IT SEZ, Navi Mumbai | INRnews

London, UK, October 01, 2007 - Ishaan Real Estate Plc ("Ishaan") is pleased to announce that it has signed a new letter of Intent with a leading ITES company for 360,000 sq. ft. (including 220,000 sq. ft. under option) at Mindspace IT Park (SEZ development), Airoli, Navi Mumbai.

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September 28, 2007

Ansal Properties enters into MoU to form construction JV with UEM | INRnews

Mumbai, India, September 28, 2007 - Ansal Properties & Infrastructure Ltd has announced that the Company has entered into a MOU, on September 28, 2007, with UEM (Mauritius) Co. Ltd, {UEM}, to form a joint Venture Company in India. The JV shall carry out building construction and engineering works of various projects of the Company situated in various states to give impetus to its construction activities in terms of quality and timeliness. UEM as part of UEM Builders is under UEM Group Berhad.

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September 23, 2007

Mivtach Shamir to invest $13 million in Chennai real estate | INRnews

Chennai, India, September 23, 2007 - Mivtach Real Estate, a subsidiary of Israeli investment company Mivtach Shamir, is to invest around $13 million in Chennai real estate.

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September 21, 2007

RE Capital India to invest in hospitality sector | INRnews

New Delhi, India, September 21, 2007 - RE Capital India an investment management and advisory institution is to invest in hospitality ventures such as resorts and timeshare.

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Peninsula Land to raise funds through equity issue | INRnews

Mumbai, India, September 21, 2007 - Peninsula Land, the real estate arm of the Ashok Piramal group, is to raise funds via fresh issue of shares.

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September 19, 2007

Bangalore based Golden Gate Properties close to stake sale | INRnews

Bangalore, India, September 19, 2007 - Bangalore based real estate developer, Golden Gate Properties, is believed to be close to a sale of a 20%-30% stake in the company. Leading financial institutions like ABN Amro, Credit Suisse and Deutsche Bank are reported to be in the race for picking up this stake for an estimated $100 million, according to an article in the Economic Times.

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Starwood Capital to set up hotel in Kolkata | INRnews

Kolkata, India, September 19, 2007 - Starwood Capital, a real estate investment firm, is to tie-up with a local partner to set uo a five-star hotel in central Kolkata at a cost of Rs 250 crore.

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SREI Infrastructure Finance to issue 25 mln shares to Promoter Group | INRnews

Mumbai, India, September 19, 2007 - SREI Infrastructure Finance Ltd has announced that the board of directors of the Company has proposed a preferential issue of up to 25,000,000 warrants to the Promoter Group, which on conversion, will increase their holding to over 35 per cent from the existing level of 20 per cent.

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September 18, 2007

ICRA assigns “A1+” rating to the Rs. 20 billion Short-Term Debt/CP programme of DLF Limited | INRnews

New Delhi, India, September 18, 2007 - ICRA has assigned an “A1+” (pronounced as A one plus) rating to the Rs. 20 billion short- term debt /commercial paper programme of DLF Limited (DLF).

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Hirco reports strong sales at Hiranandani Palace Gardens in Chennai | INRnews

Chennai, India, September 18, 2007 - Hirco plc (“Hirco”), one of India’s largest real estate investment companies, announced today that sales activity of residential units at its Chennai Old Mahabalipuram Road township investment, Hiranandani Palace Gardens, continue to be strong both in terms of sales volume of residential units and the level of pricing achieved.

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September 17, 2007

Brigade Enterprises files for draft red herring prospectus with SEBI | INRnews

Bangalore, India, September 17, 2007 - Brigade Enterprises Limited, a Bangalore-based real estate company focusing on the development of residential, commercial and hospitality properties, has filed its Draft Red Herring Prospectus (“DRHP”) with the Securities & Exchange Board of India to enter the capital market with its initial public offering of its equity shares.

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September 10, 2007

Marvel Realtors partners with Och-Ziff Capital for residential project in Kharadi, Pune | INRnews

Pune, India, September 10, 2007 - Marvel Realtors, pioneers of super luxury apartments and home automation technology in India, announced  the launch of a Rs 500 crore JV project in association with Och-Ziff Capital Management Group.

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Ishaan Real Estate Plc completes Completes £133 million Initial Portfolio Investment | INRnews

London, UK, September 10, 2007 - Ishaan Real Estate Plc ("Ishaan") announced that it has completed the investment in its initial portfolio. It has also secured leasing agreements with two leading multinational companies for 766,000 sq. ft. of the projects in the initial portfolio.

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September 06, 2007

Ritesh Industries announced partnership with Beekman Helix | INRnews

Mumbai, India, September 06, 2007 - Ritesh Industries Ltd has announced that Beekman Helix India Consulting Private Ltd, whose principals / associates have exposure in real estate of US$ 40 billion, has given in principle approval to bring in FDI for future real estate projects of the Company, which are FDI Compliant. Its Board has taken note of the same and Beekman Helix's consent to have Company as preferred partner.

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September 03, 2007

CII in Taiwan to explore investment in Indian SEZ | INRnews

New Delhi, India, September 03, 2007 - Coinciding with the ‘Invest India Mission’ to Taiwan, a Confederation of Indian Industry (CII) business delegation led by Gopal Srinivasan, Director, TVS Electronics Limited, is currently in Taiwan on a three-day visit to project India as an attractive investment destination. The eleven-member team is exploring possibilities of Taiwanese investments in Indian Special Economic Zones, as that country is seen as one of the largest growing economies in Asia.

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August 30, 2007

HDFC mobilises $800 million from its first sponsored International Real Estate Fund | INRnews

Mumbai, India, August 30, 2007 - Housing Development Finance Corporation Ltd (HDFC) on August 30, 2007 has announced the closing of its first sponsored international Real-Estate Fund, HIREF International LLC (the Fund) at USD 800 million. This shall make it one of the country's largest international real estate funds. The 9-year close-ended fund, open for subscription from only foreign investors was privately placed and was subscribed to by 28 investors.

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August 29, 2007

Allow MF/FIs To Launch DIFs For Infrastructure Building: ASSOCHAM | INRnews

New Delhi, India, August 29, 2007 - The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has suggested granting permission to mutual fund companies and financial institutions to launch Dedicated Infrastructure Funds (DIFs) with a view to mobilise resources to develop key sectors such as power, roads, rail, ports, airports to help India move  a higher growth trajectory of 10% during 11th plan period.

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August 28, 2007

Nagarjuna Construction Company Limited raises US $150 million from The Blackstone Group | INRnews

Hyderabad, India, August 28, 2007 – Nagarjuna Construction Company Limited, a leading Indian construction company, today announced that its Board of Directors has approved an investment of US$ 150 million by The Blackstone Group funds. NCC will raise US$ 150 million through a fresh issue of shares and convertible warrants. Blackstone will have representation on the Board of NCC. Kotak Investment Banking and SSKI acted as the investment banking advisors to the Company and Blackstone, respectively, in the transaction.

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August 25, 2007

S S Lootah Group zeroes in on India for infrastructure projects | INRnews

Dubai, UAE, August 25, 2007 - The UAE-based multi-billion dollar business conglomerate, S. S. Lootah Group, which has varied investment interests across a broad spectrum of industries in the UAE, Asia, Africa and Europe, has zeroed in on Infrastructure, Oil and Gas, Energy, Information Technology and Health sectors in India and has identified potential partners after a four day visit to India.

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August 24, 2007

3i Group plc to establish 3i India Infrastructure Fund | INRnews

Mumbai, India, August 24, 2007 - 3i Group plc (“3i” or the “Group”) announces that it is to establish the 3i India Infrastructure Fund (the “Fund”) to apply the successful investment strategy of 3i’s global infrastructure business to the rapidly growing Indian infrastructure market. The Fund is the first being established within the framework of the strategic partnership agreement announced by 3i and the India Infrastructure Finance Company Limited (“IIFCL”) last April.

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August 23, 2007

Holcim plans to increase its stake in Ambuja Cements | INRnews

Mumbai, India, August 23, 2007 - Holcim plans to further expand its 32.3 percent stake in the Indian Group company Ambuja Cements Ltd (ACL) and acquires from the founding families another 3.9 percent of ACL at INR 154 per share corresponding to approximately USD 220 million. The purchase is subject to the approval of the Reserve Bank of India. The families will continue to hold a stake in ACL. They will stay closely engaged with Holcim and the company, and will further support the growth and development of Holcim's position in India. Suresh Neotia will continue as Chairman and Narotam Sekhsaria as Vice Chairman on the Board of Directors of ACL and will play a significant role for the benefit of the company.

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August 22, 2007

Infrastructure - promising business areas between India and Japan | INRnews

New Delhi, India, August 22, 2007 - On the world’s economic map, India is the fourth largest economy. Most economic indicators highlight the fact that India is emerging as a preferred destination for global investors. Against this background, one such association that has grown over the years is between India and Japan, with Japan being the fifth largest investor in India.

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Emaar MGF to develop hotel and convention center in Dehradun, Uttarakhand | INRnews

Dehradun, India, August 22, 2007 - Emaar MGF, one of India’s leading premier real estate developers, today signed an agreement with the Government of Uttarakhand, for designing, constructing and operating/ managing a five star hotel and convention centre in Dehradun. The five star hotel property and the convention centre is part of an integrated facility comprising retail and entertainment space spread across 10 acres of land and has been planned with an investment of Rs 200 crores over 2 years.

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August 20, 2007

Pantaloon to raise funds; plans IPO of Future Capital finance unit | INRnews

Mumbai, India, August 20, 2007 - Leading Indian retailer Pantaloon Retail India Ltd has announced that it would sell shares and warrants to investors and founders of the company to raise over $300 million and also sell 10% of Future Capital Holdings.

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August 17, 2007

Indiabulls Real Estate plans projects across India | INRnews

Mumbai, India, August 17, 2007 - Indiabulls Real Estate Limited (IREL) with projects covering a total land area in excess of 10000 acres is one of the largest listed real estate companies in India and a leading national player across multiple realty and infrastructure sectors. IREL projects include High-end Office and Commercial Spaces, Premium Residential Developments, Integrated Townships, Luxury Resorts and Special Economic Zones. INRnews summarises the various projects Indiabulls Real Estate is undertaking.

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August 06, 2007

Wal-Mart and Bharti join hands to form retail JV in India | INRnews

New Delhi, India, August 6, 2007 - Bharti Enterprises and Wal-Mart Stores, Inc. today announced that they have signed an agreement to establish Bharti Wal-Mart Private Limited, a joint venture for wholesale cash-and-carry and back-end supply chain management operations in India, in line with Government of India guidelines.  Under the agreement, Bharti and Wal-Mart will hold a 50:50 stake in Bharti Wal-Mart Private Limited.

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August 03, 2007

Supreme Infrastructure India’s IPO receives Sebi nod | INRnews

Mumbai, India, August 03, 2007 - Supreme Infrastructure India Limited (SIIL), a company in the infrastructure sector engaged in civil construction activities, has received the Securities and Exchange Board of India (SEBI) nod for its initial public offer (IPO) for the issue of 38.75 lakh equity shares.

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July 31, 2007

Eredene Capital to invest up to INR 1,312 million in Mumbai low income housing | INRnews

London, UK, July 31, 2007 - Eredene Capital PLC (Symbol: ERE), the AIM quoted Indian real estate investor, today announced that its wholly-owned subsidiary Aboyne Mauritius Limited (together “the Eredene Group”) has entered into an agreement to invest up to INR 1,312 million (GBP 16.4 million) in the development of up to approximately 185,000 low income residential units on the outskirts of Mumbai where there is rising demand for affordable homes within commuting distance of the city.

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July 26, 2007

Ascendas to launch Singapore's first listed Indian property trust | INRnews

Singapore, July 26, 2007 - Ascendas India Trust (A-iTrust) is launching an IPO to raise SG$500 million. Ascendas India Trust (a-iTrust) is the first Singapore-listed Indian property trust and provides investors an opportunity to invest in India’s fast-growing economy. The trust has a tax-exempt dividend of 4.75% in its forecast year Apr 1 - Mar 31 2008. A-iTrust is offering 423 million shares at $1.18 Singapore each.

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July 23, 2007

Ambika Soni invites Indonesian investment in hotel sector in India | INRnews

New Delhi, India, July 23, 2007 - A high level 15 member Indonesian Parliamentarian Delegation led by Mr. Abdul Hakam Naja, Vice Speaker of the Commissioner called on the Tourism and Culture Minister Smt. Ambika Soni here today. The Minister invited Indonesian participation in hotel construction indicating that with 100% FDI allowed in this sector $6.5 billion investment is already in the pipeline.

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July 19, 2007

Hirco PLC announces investment in Commercial Township Development in Panvel, Navi Mumbai | INRnews

Mumbai, India, July 19, 2007 - Hirco PLC  (AIM:HRCO),  a real estate investment company, has announced an investment of £128.4 million in a Commercial Township Development project located in Panvel, in the Mumbai Metropolitan Region, India.

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July 17, 2007

Henderson launches US$ 1 billion Asia Pacific fund of property funds | INRnews

London, United Kingdom, July 17, 2007 - Henderson Global Investors, the independent asset manager with over US$120 billion assets under management, has today announced the Q4 2007 launch of the Henderson Asia Pacific Indirect Property Fund (Pagoda), a fund with both open and closed ended sub-funds aimed at institutional investors globally.

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July 16, 2007

Omaxe Limited IPO opens on July 17, 2007 | INRnews

Mumbai, India, July 16, 2007 - Omaxe Limited (the “Company”), an ISO 9001:2000 certified real estate development and construction company with operations in 30 cities and 9 states in India, will enter the capital market with an Initial Public Offer (“IPO”) of upto 17,796,520 equity shares (the “Issue”) of Rs. 10 each for cash at a price to be decided through a 100% Book Building Process. The Bid/ Issue will open for subscription on July 17, 2007, and closes on July 20, 2007. The Company has fixed the Price Band between Rs. 265 and Rs. 310 per equity share. The equity shares are proposed to be listed on the Bombay Stock Exchange Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”).

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July 05, 2007

IDFC Limited raises Rs. 2,100 crore through Qualified Institutional Placement (QIP) | INRnews

Mumbai, India, July 05, 2007 - IDFC Limited today successfully placed its QIP offering of Rs. 2,100 crores through issue of 165,354,330 shares at a price of Rs. 127 per share. The issue generated significant interest from a number of high quality institutional investors across Asia including India, Europe and the United States. The proceeds of offering shall be used to augment its capital base, enhance the strength of its balance sheet for its lending operations, provide seed capital to some of the funds it manages, to explore opportunities in principal investments and for general corporate purposes.

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July 04, 2007

Indiabulls Real Estate prices $360 million GDR offering | INRnews

Mumbai, India, July 04, 2007 - Indiabulls Real Estate Ltd (IBREL) has aanounced that IBREL priced its US$ 360 million GDRs offering on the Luxembourg Stock Exchange at US$ 10.32 per GDR.

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July 03, 2007

Opus Developers forms JV with Sunway City of Malaysia for Hyderabad township project | INRnews

Hyderabad, India, July 03, 2007 - Malaysian property developer Sunway City Berhad has partnered up with Hyderabad based Opus Developers & Builders to develop a Rs.800 crore township on 14ha of land near Hitec City in Hyderabad.

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July 01, 2007

Indian Real Estate and the prospects for REITs | INRnews

Mumbai, India, July 01, 2007 - Real Estate Investment Trusts, or REITs, have established themselves as the "Brand Name" investment vehicle of choice for institutional and retail investors looking to participate in real estate ownership, management and development. And while REITs are already common players in developed markets, they are now also making their presence felt in emerging markets.

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June 20, 2007

Morgan Stanley Real Estate Raises Largest Ever Real Estate Fund with $8.0 Billion of Equity Investments | INRnews

NEW YORK, June 20, 2007 - Morgan Stanley Real Estate announced today that it has successfully completed fundraising for MSREF VI International with a total of $8.0 billion of equity commitments from institutional and retail investors in North America, Europe, the Middle East and Asia. Morgan Stanley invested just over 20 percent of the total equity raised.

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SEZ status cleared for $350 million Kochi Smart City | INRnews

Kochi, Kerala, June 20, 2007 - The Centre has granted SEZ clearance for the $350 million Kochi Smart City promoted by the Kerala Government and Dubai based TECOM Investment. The project aims to develop 88 lakh sq.ft of built-up space and supporting infrastructure for IT and ITES firms and can generate 90,000 jobs over the next 10 years. The Kerala Government will have an initial stake of 16% that will increase to 26% after 5 years.

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June 19, 2007

Plaza Centers acquires land in Thiruvananthapuram for commercial development | INRnews

London, UK, June 19, 2007 - Plaza Centers N.V., a leading emerging markets property developer, today announces that, in a 50%:50% joint venture with a leading Indian property developer, it has acquired a plot of land with an area of approximately 10.78 acres (approximately 43,600 sq m), situated in Trivandrum, the capital city of the State of Kerala, India. 

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Emaar MGF forms JV to invest $600 million to develop hotels in India | INRnews

New Delhi, India, June 19, 2007 - Emaar MGF – India’s leading real estate developer today announced a 50:50 Joint Venture with Premier Travel Inn – a subsidiary of Whitbread PLC, UK’s largest hospitality company. In the past Emaar MGF has tied up with Accor – global leaders in economy & budget Hotels to bring 100 Formule 1 hotels across India with an investment of US$ 300 million.

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June 15, 2007

Indiabulls Real Estate and Zublin Gmbh enter into MoU | INRnews

Mumbai, India, June 15, 2007 - Indiabulls Real Estate Ltd has announced that the Company and Zublin International GmbH, a subsidiary of Strabag SE, have entered into a Memorandum of Understanding to consolidate their resources and experience and jointly work on large infrastructure development projects. They have also agreed to set up a Special Purpose Vehicle (SPV) to execute these projects.

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June 14, 2007

DLF IPO oversubscribed twice | INRnews

Mumbai, India, June 14, 2007 - The IPO of DLF Limited, the largest real estate development company in India in terms of the area of its completed residential and commercial developments, has been oversubscribed by nearly twice according to news reports. At the close of the third day, it received bids for 1.96 times the shares on offer.

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June 13, 2007

HDFC invests Rs. 74 crores in Pune based housing company | INRnews

Pune, India, June 13, 2007 - HDFC realty fund has purchased 10% equity of Pune based housing and construction company Paranjape Schemes (Construction) Ltd. for a total value of 74 crores.

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Ascendas launches S$500 million Ascendas India Development Trust | INRnews

Singapore, June 13, 2007 - Ascendas, Asia’s leading business space solutions provider, today announced the launch of its Ascendas India Development Trust (“AIDT” or the “Fund”). The AIDT is the first development fund to be launched by Ascendas, following the S$250 million equity Ascendas India IT Parks Trust launched in June 2005.

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June 12, 2007

Uppal Group - Luxor Group SPV signs MoU with Trinity Capital, to develop Gurgaon SEZ | INRnews

New Delhi, India, June 12, 2007 - A special purpose vehicle (SPV) formed by Delhi based real estate Uppal Group and Luxor Group, today announced the signing of a memorandum of understanding (MoU) with Trinity Capital (PLC), a US based boutique investment banking and restructuring firm. The two companies also announced divestment of their partial shareholding in the SPV in favor of Trinity Capital for over Rs. 300 crore. The SPV was floated by the two companies to develop 10 million sq. ft. on a 67-acre plot for their upcoming notified SEZ’s in Gurgaon.

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June 01, 2007

Ansal Properties signs MoU with Noor Capital of Abu Dhabi for FDI in real estate | INRnews

Mumbai, India, June 01, 2007 - Ansal Properties & Infrastructure Ltd has announced that a Memorandum of Understanding (MOU) has been entered between the Company, India Realty Ltd (IRL) having experience of real estate developments in India, and Noor Capital, PSC, UAE, with head quarters in Abu Dhabi, (NOOR), for bringing in foreign direct investments (FDI) from Gulf Cooperation Council Countries. The FDI is initially proposed into the approx 500 acres of township in Agra Project of the Company, and a Group Housing Project in Ghaziabad, one of the joint ventures of the Company, both in U.P. The projected turnover for both these Projects is around Rs 3000 crores over the next 7 to 8 years.

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May 30, 2007

DLF Limited IPO opens 11th June 2007 Price band fixed at Rs.500 to Rs.550 | INRnews

Mumbai, India, May 29, 2007 - DLF Limited, the largest real estate development company in India in terms of the area of its completed residential and commercial developments , proposes to enter the capital market on 11th June 2007 with a public issue of 175,000,000 equity shares of Rs.2 each through 100% book building process. The issue closes on 14th June 2007 and the price band has been fixed at Rs.500 to Rs.550 per equity share. The floor price of the band is 250 times the face value and the cap price is 275 times the face value. The issue will constitute 10.26% of the fully diluted post-issue capital of the company.

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May 25, 2007

WTO views on SEZ rebutted, $8 billion investment in SEZ already made | INRnews

New Delhi, India, May 25, 2007 - In the 15 months since the Special Economic Zones (SEZ) Act and Rules were notified on 10th February 2006, investments of the order of $ 8 billion have already been made and another $25 billion investment is underway. This was indicated in the reply on behalf of India by Shri G.K. Pillai, Commerce Secretary, at the World Trade Organisation (WTO) Trade Policy Review Meeting for India in Geneva today.

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Higher investment in infrastructure needed to maintain growth momentum | INRnews

New Delhi, India, May 25, 2007 - Deputy Chairman, Planning Commission, Dr. Montek Singh Ahluwalia today called upon the Private Sector to prepare for a bigger role in the development of infrastructure. Inaugurating the Conference on Public Private Partnership in State Highways, here, he said latest estimates of the Planning Commission indicate that economy was likely to grow at an average of 9 per cent plus during the Eleventh Plan period. This would need a major increase in the investment requirement for infrastructure.

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May 24, 2007

Indian infrastructure can absorb more than $150 billion FDI - Minister | INRnews

New Delhi, India, May 24, 2007 - The Minister for Civil Aviation, Shri Praful Patel has asked British investors to participate in a big way in India’s development saying that Indian infrastructure alone can absorb $150 billion FDI over the next five years.

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May 18, 2007

ING real estate looking at deals in India | INRnews

Hong Kong, May 18, 2007 - ING Real Estate a unit of global financial major the ING Group is looking at real estate investments in India and could set up a fund for this purpose.

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ECB policy modified to withdraw exemption for township development | INRnews

New Delhi, India, May 18, 2007 - The External Commercial Borrowing (ECB) policy is constantly reviewed by the Government in consultation with the Reserve Bank of India (RBI) to keep it in tune with the evolving macroeconomic situation, changing market conditions, sectoral requirements, the external sector and the lessons of experience. In a move aimed at slowing down the flow of foreign debt into the real estate sector, the Finance Ministry has decided to modulate the capital inflows through ECB by modifying some aspects of the policy.

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May 15, 2007

Yatra Capital Limited announces its first investment in Real Estate in India in Pune | INRnews

London, May 15, 2007 - Yatra Capital Limited (“Yatra”) the first Euronext quoted Indian real estate company has announced its first investment in Indian real estate. Yatra has committed up to € 21.6 million in equity for a 49% stake in a joint venture which will initially develop three residential sites in Pune, Maharashtra.

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May 09, 2007

Indore to get new township - Silver Springs | INRnews

Indore, India, May 09, 2007 - Silver Springs', M.P's first FDI promoted US $ 180 Million Integrated Township project will be inaugurated by the CM Shri Shivraj Singh Chauhan later today. This township project accorded Mega status by the State Government is being jointly promoted by Fire capital Fund Pvt Ltd, a Real Estate Private Equity Fund and the M Jhaveri Group of Indore. Having 6 million square feet of residential and commercial space, the township is located on the A.B Road bypass, approximately 9 kms. away from the centre of the city. 

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Ansal Properties enters into MOU with a Real Estate Company in Dubai | INRnews

Mumbai, India, May 09, 2007 - Ansal Properties & Infrastructure Ltd has announced that a Memorandum of Understanding (MOU) / Term Sheet has been entered between the Company and Deyaar Development PSC, a real estate Company in UAE, with head quarters in Dubai, (in short Deyaar), for developing a mega mixed use township comprising of residential, commercial, institutional and industrial properties in India.

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May 04, 2007

UAE-based Realty Major, Al Fajer Properties Eyes India Real Estate through Joint Venture | INRnews

New Delhi, India, May 04, 2007 - Al Fajer Properties, one of the leading realty developers from Dubai, today announced its India investment strategy which will include developing world-class realty projects in India through a joint venture and creating a real estate fund to facilitate investments by small investors in Dubai properties.

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April 18, 2007

Ascendas to invest S$570 million in two IT park projects in Maharashtra, India | INRnews

Mumbai, India, April 18, 2007: Ascendas, Asia’s leading business space solutions provider, today announced plans for two major business parks in Maharashtra. The projects comprise joint ventures with government agencies: A partnership with the Maharashtra Industrial Development Corporation (MIDC) for an IT Park in Pune and a second joint venture with the Maharashtra Airport Development Company (MADC) for an IT Park in Nagpur. Both these projects are located within Government-promoted and approved SEZ areas.

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April 10, 2007

Ascendas to embark on S$270 million expansion of International Tech Park Bangalore | INRnews

Bangalore, India, April 10, 2007 – Ascendas, Asia’s leading business space provider, celebrated today the 10th anniversary of its flagship project in India, the International Tech Park Bangalore (ITPB). It also inaugurated the Park’s 6th building, the Navigator.

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April 09, 2007

Trent enters into an agreement with the Xander Group for retail real estate | INRnews

Mumbai, India, April 09, 2007 - Trent Ltd has announced that the Company has entered into an Agreement with The Xander Group Inc., a global private equity firm. The Xander Group Inc. will through one or more of its Fund vehicles invest in the development of an institutional retail real estate portfolio in India in partnership with high quality Indian developers.

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April 06, 2007

Morgan Stanley to pick up stake in IHHR Hospitality | INRnews

New Delhi, India, April 06, 2007 - Global financial services firm Morgan Stanley is looking to pick up a 15%-20% stake in New Delhi-based IHHR Hospitality that runs the Ananda and Ista Spa and hotel chain. This was reported by the Economic Times.

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April 03, 2007

Indore realty firm to raise $150 million on AIM | INRnews

Mumbai, India, April 03, 2007 - The London Stock Exchange's Alternative Investment Market (AIM) has now started attracting the real estate companies of tier-II cities also.  Indore-based Entertainment World Development Private Ltd (EWDPL) is all set to raise US $150 million through the initial public offering (IPO) on the AIM.

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March 17, 2007

FICCI Real Estate and Urban Infrastructure Delegation to Singapore | INRnews

New Delhi, India, March 17, 2007 - In order to facilitate and promote business interests in the real estate and urban infrastructure sector between India and Singapore FICCI is taking a business delegation to Singapore from April 2 to 4, 2007.

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March 16, 2007

Urban Infrastructure Real Estate Fund to raise $500 million | INRnews

Mumbai, India, March 16, 2007 - A Mauritius based fund with feeder funds in Jersey, the Urban Infrastructure Real Estate Fund (UIREF), is targeting to raise USD 500Mn for investment in the real estate sector in India.

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March 15, 2007

FICCI survey shows a 5-10% rise in real estate prices expected | INRnews

New Delhi, India, March 15, 2007 - A majority of Indian CEOs and CMDs do not foresee a collapse in the prices of real estate and disregarded the rising trend as a "bubble" according to a survey by industry chamber FICCI. The survey was conducted amongst leading real estate consultancy firms, developers, construction companies, builders and financial institutions.

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March 14, 2007

Ptarmigan Capital fund launched - focuses on South India real estate | INRnews

Mumbai, India, March 14, 2007 - Craig S. Phillips, former Global Head of Securitized Products for Morgan Stanley, announced today the founding of Ptarmigan Capital LLC, an alternative asset management firm. The firm plans to focus on real estate-related investments, including private equity real estate investments in India and opportunistic investments in the U.S. residential markets. The firm has offices in Stamford, Connecticut and Bangalore, India.

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March 13, 2007

Urban Infrastructure Opportunities Fund invests Rs 1,102 crore in Indian real estate | INRnews

Mumbai, India, March 13, 2007 - The Urban Infrastructure Opportunities Fund (UIOF) promoted by Anand Jain has invested Rs.1,102 crore in various real estate projects in the country for development of total built-up space of 70.2 million square feet.

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March 01, 2007

Kuwait company to invest $136 million to set up three hotels in Kerala | INRnews

Kochi, India, March 01, 2007 - The Kuwait based KGA Group of companies is to invest $136 million to set up three hotels in the Southern Indian state of Kerala.

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February 26, 2007

Plaza Centers sets up JVs for Pune real estate projects | INRnews

London, UK, February 26, 2007 - Plaza Centers N.V. , a leading emerging markets property developer, today announces that it has, through  its two wholly owned subsidiaries, acquired two joint venture projects in India.

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February 23, 2007

Cabinet approves Salim Group township and infrastructure venture | INRnews

New Delhi, India, February 23, 2007 - The Union Cabinet has approved Indonesia-based Salim Group's proposal for a $500 million investment in development projects in West Bengal. The company is looking at developing integrated infrastructure including townships, housing, SEZ, and industrial parks.

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February 22, 2007

Dawnay Day to invest $1.5 bn in Indian realty | INRnews

Mumbai, India, February 22, 2007 - UK-based investment firm Dawnay Day International plan to invest $1.5 billion in Indian realty over the next few years. Areas of interest include residential developments, townships, and warehousing.

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February 21, 2007

Citigroup Property Investors closes US$1.29 Billion Asia Real Estate Fund | INRnews

Hong Kong, February 21, 2007 - Citigroup Property Investors (CPI) today announced the final close of CPI Capital Partners Asia Pacific, L.P. The $1.29 billion Fund invests in real estate and real estate-related assets throughout the Asia Pacific region, with a primary focus on Greater China and India.

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February 20, 2007

Och-Ziff takes a 25% stake in Nitesh Estates | INRnews

Mumbai, India, February 21, 2007 - Hedge Fund Och-Ziff Capital Management has picked up a 25% stake in Bangalore based real estate developer Nitest Estates for Rs.250 crore.

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February 19, 2007

Tata group to set up $1 billion Indian realty and infrastructure fund | INRnews

Mumbai, India, February 19, 2007 - Leading Indian industrial group Tata is to set up a new company Tata Realty & Infrastructure with a corpus of $1 billion to invest in real estate in the country.

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February 15, 2007

India Infrastructure Financing Initiative to deploy $5 billion in projects | INRnews

New Delhi, India, February 15, 2007 - Infrastructure Development Finance Company Limited ("IDFC"), Citigroup Inc. ("Citi"), India Infrastructure Finance Company Limited ("IIFCL") and Blackstone Group Holdings L.P. (together with its affiliates, "Blackstone") announced the launch of "The India Infrastructure Financing Initiative", a collaborative effort to deploy approximately US $ 5 billion in capital for infrastructure projects in India. The plan is to deploy about US$ 2 billion in equity capital and US$ 3 billion in long term debt financing with maturities exceeding ten years.

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February 06, 2007

Rs 3500 crore Satellite Township to come up at Tellapur near Hyderabad | INRnews

Hyderabad, February 6, 2007 - The Hyderabad Urban Development Authority (HUDA) has awarded a Rs.3,500 crore Satellite Township project at Tellapur near Hyderabad to a consortium comprising Nagarjuna Construction, ICICI Venture Funds and Tishman Speyer Properties.

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January 31, 2007

Private equity firm Actis to set up $300 m India real estate fund | INRnews

New Delhi, India, January 31, 2007, - UK-based private equity firm Actis plans to set up a $300 million India real estate fund, on top of two other existing funds with an estimated equity of $475 million. The firm is already in talks with real estate players for making these investments according to Donald Peck, Managing Partner of Actis.

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MoU signed for $25 bln real estate development project in Andhra Pradesh | INRnews

Hyderabad, January 31, 2007 - A consortium comprising of real estate developers Jurong International from Singapore and Springfield Land of Australia has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh government to develop an integrated science city on 65,000 acres of land between Odicheruvu and Ammadiguda in Anantpur district of Andhra Pradesh. The location is just 200km from Bangalore and 400km from Hyderabad.

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January 29, 2007

CHD Developers to consider ADR issue | INRnews

Mumbai, India, January 29, 2007 - The Board of Directors of CHD Developers Ltd is to meet on January 30, 2007, to consider a proposal to raise funds through ADR / GDR issue / FCCBs, to increase borrowing limits of the company and to initiate an Employee Stock Option Plan.

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January 28, 2007

Dev Property raises Rs 1200 crore in AIM offering | INRnews

Mumbai, India, January 28, 2007 - Dev Property Development, an overseas arm of Indiabulls Real Estate, has completed an initial public offering of its ordinary shares for a total amount of Rs. 1200 crore (GBP 138 million) and shall be listed on the Alternative Investment Market of the London Stock Exchange. Sources indicate that steel baron LN Mittal, and leading institutions such as GIC Singapore, Fidelity, and Capital Research have picked up large stakes in the IPO.

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January 25, 2007

Trinity Capital to make £9.1m real estate investment in Hyderabad | INRnews

London, January 25, 2007 - Trinity Capital is pleased to announce a £9.1m investment to develop commercial, retail and residential space in Hyderabad in South India. Trinity will subscribe to 49% of the equity share capital of the project company. Manjeera Construction Limited, one of the city’s premier construction companies, will partner Trinity in the development of this project.

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January 24, 2007

Apollo Management to invest $2 bln in Indian real estate | INRnews

Mumbai, India, January 24, 2007 - US based private equity firm Apollo Management is to invest $2 billion in the Indian real estate sector, financing $630 million in equity from institutional investors and the rest by borrowings.

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January 19, 2007

Real estate firm Pacifica to launch Tech Park in Chennai | INRnews

Chennai, January 19, 2007 - US based real estate firm Pacifica is all set to launch its Rs.175 crore Tech Park in Chennai in April this year. The Tech Park is expected to provide 12% of Chennai's new IT space supply for the year.

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January 18, 2007

Akruti Nirman to set up Bio-IT park in Vadodara on 708 acres of land | INRnews

Ahmedabad, January 18, 2007 - Mumbai based real estate developer Akruti Nirman has signed an MOU to set up a Bio-IT park on 708 acres of land in Savli, Vadodara. The GUjarat government is to hold a 11% equity stake in the project, with Akruti Nirman to hold 66% and the Chatterjee Group to hold the balance 23%. The company has initiated discussions with various companies to set up their facilities at the park.

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Staples enters India through JV with Pantaloon Retail | INRnews

Framingham, January 18, 2007 - US based office products company Staples, Inc. (Nasdaq: SPLS) announced today a joint venture with India's leading retailer, Pantaloon Retail Limited, and its new office products business unit, Future Office. The agreement establishes a platform for Staples to enter the $10 billion office products market in India and allows Pantaloon to benefit from the industry expertise and sourcing network of the world's largest office products company.

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January 17, 2007

Morgan Stanley Real Estate Invests Rs 675 Crore in Oberoi Constructions in India | INRnews

Mumbai, India, January 17, 2007 - Morgan Stanley Real Estate announced that it has invested Rs. 675 Crores (approximately US$152 million) in Oberoi Constructions, a leading Indian real estate developer, focusing on residential, commercial, retail and hospitality projects.

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Parsvnath and Nakheel plan real estate joint venture | INRnews

New Delhi, January 17, 2006 - Leading Middle East real estate developer Nakheel is reported to be close to setting up a 50:50 JV with Delhi based firm Parsvnath Developers.

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Real estate investment firm Dev Property to list on London's AIM market | INRnews

London, January 17, 2006 - Isle of Man incorporated Dev Property Development, an investment firm focused on real estate in India, plans to raise $530 million in a listing on the London Stock Exchange's AIM Market.

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Citigroup Property Investors invests in Indian real estate | INRnews

Bangalore, January 17, 2007 -  Citigroup Property Investors ("CPI"), the real estate investment management business of Citigroup is partnering with Bangalore based real estate developer Nitesh Estates to develop a 250-room luxury hotel on Residency Road in Bangalore.

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January 14, 2007

Emaar MGF Land to raise $2.9 Bn in IPO | INRnews

Mumbai, January 14, 2007 - Emaar MGF Land Private Limited, a joint venture between Dubai based real estate giant Emaar Properties PJSC Dubai and Indian real estate developer MGF Development Limited, plans to raise over $2.9 billion in one of the largest real estate IPOs in India according to news reports.

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January 11, 2007

$140 million Israeli investment in Hyderabad Real Estate | INRnews

Jerusalem, January 11, 2007 - Israeli companies Property and Building Ltd and Electra Real Estate Ltd plan to build a residential and commercial complex in Hyderabad on a 35 acre plot at an investment of $140 million according to business reports.

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Rising FDI in realty a concern to RBI | INRnews

Mumbai, January 11, 2007 - India's central bank the Reserve Bank of India is watching closely the rapid build-up of FDI into the country's hot real estate sector. FDI flows into real estate have increased by almost 420% from $135.35 million in Jan-Oct 2005 to $703.3 million in 2006.

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Cinemax India Ltd announces IPO, to set up 19 theatres in India | INRnews

Trivandrum, Kerala, January 11, 2007 - Cinemax India Limited, one of the largest Exhibition theatre chains in India today announced a price band of Rs 135 to Rs 155 for its forthcoming Initial Public Offer (IPO) of 8,920,000 equity shares of Rs 10 each, comprising of a fresh issue of 7,000,000 equity shares and an offer for sale of 1,920,000 equity shares by the selling shareholders. The fresh issue and the offer for the sale are jointly referred to as the “ISSUE”. 60,000 equity shares of Rs.10 each will be reserved in the issue for subscription by employees. The offer of equity shares other than the employee reservation portion shall be called the “NET ISSUE”.

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January 05, 2007

Puravankara Projects Limited to Soon Enter the Capital Markets, Files with SEBI | INRnews

Mumbai, Maharashtra, India, January 05, 2007 - Bangalore based Puravankara Projects Limited, one of the leading real estate development companies in India has filed its Draft Red Herring Prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) to enter the capital markets with an initial public offering of equity shares.

January 03, 2007

Indian real estate boom of 2006 to further roll in 2007 | INRnews

New Delhi, January 03, 2006 - The real estate boom of 2006 is set to multiply itself in 2007 to get India a foreign capital of over Rs. 8000 crore with leading international investors establishing their presence in its richly rewarding real estate development, providing new employment opportunities for over 2 lakh skilled and unskilled workforce, according to estimates made by The  Associated Chambers of Commerce and Industry of India (ASSOCHAM).

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December 15, 2006

Unitech Corporate Parks raises £360m on London's AIM for Indian real estate investments | INRnews

Mumbai, December 15, 2006 - Unitech Corporate Parks Plc (UCP), which is associated with real estate developer Unitech Limited, has raised £360 million (Rs 3,156 crore) through an initial public offer on the London Stock Exchange’s Alternative Investment Market (AIM).

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December 13, 2006

Hirco raises £382.6 million on London's AIM market for Indian real estate investment | INRnews

London, December 13, 2006 - HIRCO PLC today announces its successful flotation on the AIM market of the London Stock Exchange under the ticker symbol HRCO. A total of 74,000,000 ordinary shares at 500 pence per ordinary share have been offered. In total, £382.6 million ($753.7 million) was raised by the Company.

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December 12, 2006

Indiabulls increases stake in IRECPL | INRnews

Mumbai, December 12, 2006 - Indiabulls Financial Services Ltd has informed BSE that the Company has increased its equity stake in Indiabulls Real Estate Company Pvt Ltd ("IRECPL") to 50.5% through conversion of Optionally Convertible Debentures held by the Company in IRECPL amounting to Rs 82.29 crore.

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BSEL Infrastructure Realty brings NRI investment | INRnews

Mumbai, December 12, 2006 - BSEL Infrastructure Realty FZE, UAE, a wholly owned subsidiary of BSEL Infrastructure Realty Limited has brought investment from Gulf Based NRIs to the tune of USD 25 Million for BSEL Infrastructure Realty Limited.

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December 11, 2006

Real estate developer Omaxe to raise Rs. 1,500 crore in IPO | INRnews

New Delhi, December 11, 2006 - Leading real estate developer Omaxe Limited is seeking to raise up to Rs 1,500 crores via an IPO.

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December 10, 2006

Citigroup Property Investors looks to invest $1 billion in India | INRnews

Mumbai, December 10, 2006 - Citigroup Property Investors, a unit of Citigroup, is planning to invest over $1 billion in Indian real estate, attesting to the opportunities seen by global investors in this market.

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December 07, 2006

Unitech seeks funding to invest in real estate projects valued at Rs.41 billion | INRnews

Mumbai, December, 7 2006 - Leading real estate developer Unitech Ltd is seeking funding from affiliates of Unitech Corporate Park, Plc, a newly incorporated Company in the Isle of Mann, for investment in real estate projects including one Information technology Park and five potential IT Special Economic Zone projects in Noida and Gurgaon in the National Capital Region and in Rajarhat in Kolkata. Unitech Corporate Park, Plc is seeking admission of its Ordinary Shares on the London Stock Exchange’s AIM market.

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November 30, 2006

Ascendas real estate fund buys Cyber Pearl IT Park in Hyderabad | INRnews

Hyderabad, November 30, 2006 :  Ascendas India IT Parks Trust, a $350-million private real estate fund, has purchased L& T Infocity Ascendas Limited (LTIAL) owners of the Cyber Pearl IT Park in Hitec City in Hyderabad. The fund was set up by business space provider Ascendas.

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Accor to develop hotels in India | INRnews

New Delhi, November 30, 2006 : As part of its global development strategy aiming at opening 200,000 new hotel rooms by 2010, of which 60% in emerging markets, Accor has signed today significant partnerships that trigger a major expansion in India. This expansion plan covers the full spectrum of the hotel market in India, including budget Formule 1 hotels, economy Ibis hotels, mid-market Novotel hotels and upper-upscale Sofitel properties.

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NRI investment in Indian housing and real estate | INRnews

New Delhi, November 30, 2006 : The Government of India has put in place a liberal and transparent policy for investment from overseas Indians.  Most of the sectors are open to Foreign Direct Investment (FDI) under the automatic route.

Non-Resident Indians (NRIs) can invest upto 100% under the automatic route in the Housing and Real Estate Development for the following activities.

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November 27, 2006

FDI’s share in Indian real estate to touch 26% By March 2007 | INRNews

New Delhi, November 27, 2006 : FDI’s share in domestic real estate market will touch about 26% by March 2007, 10% higher than levels of 16% for fiscal 2005-06. This is expected to be driven by the growing interest of global real estate players in the Indian real estate market and increasing demand for office space particularly in IT & BPO.

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November 23, 2006

US$8 billion to flow into Indian real estate funds | INRnews

Bangalore, November 23, 2006 : After the government’s relaxation of foreign direct investment (FDI) norms for the real estate sector in early 2005, the real estate sector has seen a foray of real estate fund launches. Sizable investments are expected to flow into these funds according to real estate services firm Jones Lang LaSalle (JLL).

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November 15, 2006

India's retail revolution begins | INRnews

Hyderabad, November 15, 2006 - If India's much anticipated retail revolution has a start date, it could well be the first week of November 2006. On November 3, in a classic RIL move marked by scale and ambition, Reliance Retail launched 11 Reliance Fresh retail outlets simultaneously in the southern Indian city of Hyderabad, firing the first salvo in what will be a keenly contested battle to win a huge prize - nothing less than the wallets of Indian consumers!

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November 14, 2006

Quantum fund buys stake in real estate developer Ansal API | INRnews

New Delhi, November 14, 2006 - The Quantum Fund promoted by George Soros has purchased 1% of real estate developer Ansal API for Rs 25 crore. The purchase has been made from the secondary markets. Ansal API has very recently raised Rs 175.8 crore through a 5% private placement with Citigroup. The HDFC Realty Fund has also invested Rs 50 crore in Ansal API.

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Xander, Old Lane, Morgan Stanley, Evolvence to invest in Indian Real Estate | INRnews

Mumbai, November 14, 2006 : Significant investments have been announced in Indian Real Estate by Xander Real Estate Partners, private equity firm Old Lane, Morgan Stanley Real Estate and Evolvence Capital.

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November 10, 2006

Leverage India Fund invests Rs 17.50 crore in Digital Shoppy | INRnews

Hyderabad, November 10, 2006 :  Digital Shoppy, a retail chain of stores for consumer electronics and home appliances in Andhra Pradesh and Karnataka, today announced that the Company has concluded a private equity placement of Rs. 17.50 crores with Leverage India Fund managed by IL&FS Investment Managers Limited (IIML), one of India's largest private equity firms.

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November 06, 2006

Investor perception and risk management in retail real estate | INRnews

Bangalore, November 06, 2006 : Ambar Maheshwari, investment advisory director of global real estate adviser DTZ in India looks at the issues surrounding investment in retail real estate.

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Finance Minister clears 32 FDI proposals including one for Real Estate | INRnews

New Delhi, November 6, 2006 - Union Finance Minister, Shri P. Chidambaram has approved 32 Foreign Direct Investment proposals recommended by Foreign Investment Promotion Board (FIPB) in its meeting held on 20th October, 2006. The approvals amount to Rs. 249.81 crore. The proposals relate to multiple Ministries/Departments, with the major investment proposals pertaining to the departments of Commerce, Economic affairs, Heavy Industry and Information & Broadcasting.

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November 02, 2006

easyHotel to set up budget hotels in India | INRnews

Dubai, November 02, 2006 : easyHotel, part of the easyGroup of companies founded by serial entrepreneur Stelios Haji-Ioannou, is planning to start eight hotels in India with Dubai-based Istithmar Hotels. The no-frills, budget hotels will come up in Delhi, Mumbai, Chennai, Bangalore, Kolkata, Hyderabad, Pune and Ahmedabad by 2009. Istithmar will develop, own and operate the 120 to 200 room easyHotels in India.

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November 01, 2006

NRIs allowed to remit up to $1 million from property sales annually | INRnews

Mumbai, November 01, 2006 : The Reserve Bank of India (RBI) in its mid-term review of monetary policy has allowed non resident Indians (NRI) to remit abroad up to $1 million per year from the sale of immovable property in India. Until now, NRIs and people of Indian origin were required to lock-in sale proceeds in their non-resident ordinary accounts for a few years.

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October 28, 2006

Investments in India's hotel sector attractive | INRnews

Mumbai, October 28, 2006 : The booming hospitality sector in India is seeing increased interest from domestic and foreign players keen to invest in hotel, resorts and serviced apartment development.

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October 27, 2006

Parsvnath IPO to value the real estate company at $1.2 Billion | INRnews

Mumbai, October 27, 2006 :  Real estate developer Parsvnath Developers could be valued at $1.2 Billion based on its proposed IPO price band of Rs. 250-300 rupees per share. The company plans to raise $220 million from the capital markets by selling 18.3% of its post-issue capital. The Parsvanath IPO is open from Nov 6-10.

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October 21, 2006

Indian Real Estate Sector – Land Calling | INRnews

Mumbai, October 20, 2006 : India Infoline, one of the leading financial services companies in India, has released a tome on India’s Real Estate sector covering Tier I, II and III cities. According to the research, "Indian Real Estate - Land Calling" the Indian real estate market size is estimated at US$12bn and limited institutional participation does not truly reflect the future potential of the market.

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October 18, 2006

Trinity Capital PLC to invest in £215 million IT Park, Greater Noida

New Delhi, October 18, 2006: Trinity Capital PLC has announced the acquisition of a stake in an Information Technology Park project in Greater Noida. Trinity has committed £28.3 million to the project. The initial tranche comprises £10.3 million and a second tranche of £10.1 million will be due in November 2006.  A further £7.37 million of equity will be invested into the development of the project.  The total cost of the development is expected to be £215 million which will be financed through a mix of debt and pre-construction sales.

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October 12, 2006

Trinity Capital PLC to invest £11.6 million in Mumbai residential project with Lokhandwala

October 12, 2006 : Trinity Capital PLC announced that the asset manager of its Fund, Trikona Capital (‘Trikona’), has entered into a partnership with Lokhandwala Builders, a Mumbai based real estate developer, to undertake a residential project in Mumbai. Trinity has acquired 49% of the equity in this venture for a consideration of £11.6 million.

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October 09, 2006

ASSOCHAM For 49% FDI In Retail Sector

New Delhi, October 09, 2006:  While the domestic industry is opposed to 100% foreign equity in the fast growing retail sector, the overwhelming majority of the domestic firms are keen on allowing 49% FDI in a calibrated manner, according to ASSOCHAM.

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October 06, 2006

Mahindra Gesco closes US$ 105 million QIP issuance

Mumbai, October 6, 2006 :  Mahindra Gesco Developers Limited (MGDL), one of the leading real estate and infrastructure developers in India has successfully closed its US $ 105 million Qualified Institutional Placement ("QIP").

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October 05, 2006

Trinity Capital PLC Acquires strategic stake in ITNL

October 5, 2006 : Trinity Capital PLC announced that it has acquired a 2.5% shareholding for £4.8 million in IL&FS Transportation & Networks Limited (“ITNL”) which is 90% owned by Infrastructure Leasing and Finance Services Limited, (“IL&FS”) one of India's leading financial institutions.

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September 27, 2006

Modi invites Japanese companies to set up SEZ in Gujarat | INRnews

Ahmedabad, September 27, 2006 : Gujarat Chief Minister Narendra Modi today invited Japanese investors and industrialists to set up exclusive Special Economic Zones on the 1600 km long coastline of the State.

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September 25, 2006

Foreign Venture Capital set to invest in Indian Real Estate market

Mumbai, September 25, 2006:  The long wait appears to be near an end for Foreign VC funds who have been keen on investing in the Indian Realty sector and are awaiting approval from RBI.

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Hyundai and suppliers to invest $1.5 billion in India

New Delhi, September 25, 2006: Carmaker Hyundai Motor Co announced significant expansion plans in India. The company plans to invest over $900 million to beef up its facilities in the country and expects its affiliates and suppliers to invest close to $600 million in addition. The investment would go towards a car, engine, transmission plant and an R&D Centre.

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September 21, 2006

Goldman Sachs to invest in Indian real estate

New Delhi, September 21, 2006: Goldman Sachs CEO Brooks Entwistle has said that the company plans to invest $1 billion in India over the next two years. A key focus area of the investment would be real estate and infrastructure amongst other sectors. Mr. Entwistle was in India for the India Leadership Initiative conference in New Delhi. Mr. Entwistle said, "That's putting our own capital to work in this market."

Goldman Sachs terminated its joint venture with Kotak Mahindra Bank earlier this year signaling its intent to go it alone in this "very important market". Goldman has over 1,000 people working in India in Mumbai and Bangalore.

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India to see increased share of cross border real estate investment

Mumbai: 21st September, 2006: Speaking on Real Estate from a Global Perspective, Dr. Seek Ngee Huat, President, Government of Singapore Investment Corporation (GIC) Real Estate Pte Ltd, Singapore informed that cross border investment increased from 29% in 2004 to 35% in 2005 reaching US$ 164 billion, with Asia Pacific seeing the strongest growth at 56% in 2005. Dr. Seek said that there would be a surge in cross border real estate investment activities globally where by, the share for emerging markets like India is likely to grow.

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Govt to look at permitting foreign investors to tap the capital market pre-IPO in Indian real estate sector

Mumbai: 21st September, 2006: Inaugurating the FICCI - International Real Estate Summit 2006 , the Union Minister for Urban Development, Mr. S Jaipal Reddy highlighted the importance of the unique Jawahar Lal Nehru Urban Renewal Mission in the backdrop of an inevitable urbanization that is taking place. He said, “Growth rates in the urban sector will keep shooting up for many years, we expect 40% of people in India to move to urban India by 2025.”

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September 15, 2006

Foriegn Direct Investing in Indian Real Estate | INRnews

Mumbai, September 15, 2006 : Foreign Investment in Indian real estate remains controlled, but the opportunities are immense according to B.Srinivas, National Manager, Capital Markets Group, Cushman & Wakefield India.

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September 12, 2006

Eredene Capital Fund invests in Nashik mall

UK-based Eredene Capital Fund has invested in an 800,000 sq.ft. mall in Nashik city in Maharashtra. The fund has taken a 50% stake in the property and expects to make a 40% return on its investment. The mall will be ready in 2008 and has already got tenants such as Fab India, McDonalds and Pantaloon.

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September 11, 2006

Pune to house new Volkswagen plant

The city of Pune has bagged a major manufacturing project - auto major Volkswagen is to locate its new car plant at Chakan outside the city. The company has been given approval for 400-acres of land for the manufacturing site to be handed over by November.

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September 08, 2006

HDFC gets approval for $720 million India property fund

HDFC has got approval for a property fund that is to raise $720 million from overseas investors. The money will be raised through India Offshore Real Estate Investments, a Mauritius based entity. In addition, $30 million is planned to be raised from the domestic market.

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September 07, 2006

Suzuki-Nissan JV to set up $1.5 bn car plant in Manesar, Haryana

A Suzuki-Nissan JV proposal to set up a 350,000-car unit in Manesar, Haryana has been submitted to the government.

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September 05, 2006

Citigroup to invest in Indian real estate

Citigroup Property Investors will partner with Gera Development in a $125 million real estate project in Pune. The residential development would include construction of 600 apartments, a country club and a hotel according to Rohit Gera, executive director of Gera Development. The project will be completed in four years time.

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JP Morgan India Property Fund targets 20% return (External Article)

JP Morgan India Property fund is targeting returns of 20% with investments in residential, office, retail, warehousing and hospitality sectors as well as secondary cities such as Chandigarh, Nagpur, Vizag, Mangalore and Kochi. This was stated by its managing director, Mr.Arvind Pahwa in an interview with Hindu Business Line.

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September 04, 2006

Israeli companies to invest in Indian real estate starting with Chennai

Two Israeli companies, The IDB Group's subsidiary company Property & Building and Electra Real Estate are to form a JV to invest $100 million in the Indian real estate and property market. The JV will focus on the construction of thousands of residential units as well as commercial and office space in Chennai and other areas. While the two companies will hold 45% stake each, a third Israeli company will hold the remaining 10%.

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September 01, 2006

Indian real estate major DLF delays IPO plans

Indian real estate developer DLF has postponed its IPO that was expected to raise $3.5 Billion for a 12.8% share in the company. The IPO was expected to be the largest in India's capital market history.

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August 30, 2006

India receives Rs.594.33 crore FDI in real estate

In a written reply made to the Lok Sabha, the Minister of State for Housing and Urban Poverty Alleviation, Kumari Selja said that Rs.594.33 crores of Foreign Direct Investment (FDI) has been received for the Indian real estate sector from Jan 2004 to April 2006. The sector includes housing, real estate development and infrastructure. The funds were received mostly from Canada, China, Germany, Russia, Singapore, US and UK.

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August 25, 2006

Indian Realty Funds till keeps ringing

There is a lot of money being raised for investment in the realty sector. About $3 billion to $4 billion at last count. And there are a lot of repected banks and fund managers who have already begun making investments in real estate-based firms and in real estate opportunites. Indian institutional investors are HDFC, Kotak, IL&FS while international bigwigs include Calpers, Goldman Sachs, Merrill Lynch, JP Morgan, Morgan Stanley, CLSA, Deutsche group and Warburg Pincus.

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Kolkata real estate sees foreign interest

International Infrastructure Limited (IIL) has just received Rs.30 crore as direct investment from American based firm, New Vernon Private Equity. IIL is behind Globsyn Crystals, the latest infotech park in Kolkata that it jointly promotes with the Globsyn Group. The Infotech Park is the first in the country to have an attrition-free working environment. Development costs are expected to be Rs.100 crores with the project to be completed by September 2007.

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August 24, 2006

Bullish on real estate in the South (External Article)

ICICI Venture fund manager, Kishore Gotety who manages a $550 million fund focused on Indian realty is bullish on opportunities in the South particularly in Hyderabad, Bangalore and Chennai. In an interview in FinanceAsia he opines that real estate opportunities in India witnessed so far are only the tip of the iceberg.

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August 16, 2006

Significant risks inherent in the Indian real estate capital market: Deutsche Bank Research