Dubai-based ETA Star real estate firm plans to utilize its funds to develop 120 million square feet of land in India.
Dubai’s ETA Star Property Developers mulls a fund of $400 million via Islamic bonds to enter Asian markets as diverse as India and Laos. The real estate firm is planning to utilize its own funds to develop 120 million square feet of land in India, and enter other markets in Asia.
ETA Star Property’s executive director Abid Junaid said: “We’re talking to institutional investors to raise $250 million in a first tranche. ETA Star also wanted to raise $100 million to $150 million in Islamic bonds, or sukuk, as Sharia-compliant products are very much in demand in the Middle East.”
ETA Star is one of several Dubai-based real estate firms, including Emaar Properties and Nakheel, that have joined a wave of foreign investment in Indian property market since the country eased rules on inward investment in the realty industry in 2005.
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uday singh panwar 09758268374
India is beginning to make news worldwide. It’s just the right time to think India. There’s a new sense of confidence in Indian business. This confidence arises from the growing success of Indian enterprise in the face of competition in an increasing number of sectors. The India growth story is going stronger than ever. Favourable demographic and psychographic changes relating to India’s consumer class, international exposure, availability of quality retail space, wider availability of products and brand communication are some of the factors that are driving the retail in India. Real estate consultancy Jones Lang Lasalle Meghraj has identified 50 Indian cities that are likely to witness most of the retail action over the next couple of years — both in terms of development of malls and advent of organised retailers. And Jaipur, Lucknow and Kochi find mention among cities poised for “high growth.For more view- realtydigest.blogspot.com
China and India are in top three choices of real estate investors according to a survey. So investers like to invest in Asia because Asian market has great potential.