Hyderabad-based real estate firm SatyaVani Projects and Consultants is in talks with European REITs to raise $150 million in private equity, which will form the bulk of the $190 million it plans to spend on projects in Hyderabad, Bangalore and Vishakhapatnam.
Company’s director Mr. P Surya Prakash said that besides private equity, SatyaVani Projects is looking at raising cash through a combination of internal accruals and private placement. He declined to name the potential investors.
A 5 million square feet medical tourism project in Hyderabad will be the biggest, costing $120 million and consisting of two hospitals, a health resort and service apartments.
In Bangalore, it will establish an eco resort and a housing project at an investment of $50 million. The company will spend another $20 million on residential projects in Vizag.
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Already there are lot of projects are presently running in the development level becasue lot of IT sector diversified over there through which the development level is going on full swing.