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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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