Indiareit buys Rs 300 crore stakes

Wed, 26 Nov 2008 12:00:38 +0000

Ajay Piramal-promoted real estate fund Indiareit has acquired about 15 percent stakes in Mumbai-based developer Neptune group for around Rs 300 cr. The deal assumes significance as the fund has chosen to invest in the company, rather than the usual practice of investing in individual projects.

Neptune group chairman Nayan Bheda confirmed the deal, but refused to share the details, including the amount involved. “We have expanded our operations across India and the money will be invested in upcoming projects,” Bheda added.

In the past few years, Neptune has grown into a pan-India player with projects in Pune, Hyderabad, Chennai, Vishakhapatnam, Kochi and Nagpur, among others.

“It is for the first time that we are investing in the entity-level. The deal will help us get a pan-India presence as Neptune is expanding operations across India,” said Indiareit Fund Advisors CEO Ramesh Jogani.

Indiareit is looking at investments in excess of Rs 200 cr in properties in Mumbai and Hyderabad. It had invested Rs 225 cr in Bangalore-based Skyline Constructions & Housing last year.

Gaziz Globe And Big Shopping Group From Israel To Invest In India

admin — Mon, 21 Jul 2008 10:52:11 +0000

The Indian real estate market is set to witness the entry of investors like Gaziz Globe and Big Shopping Group from Israel, Mirax from Russia and a few others from Eastern and Western Europe. Together, these investors are likely to invest around Rs 10,000 crore in Indian property that is FDI compliant, in the coming months, through the PE route.
The move is expected to bring relief to developers who are increasingly finding it difficult to mobilize funds from banks. Jones Lang LaSalle Meghraj (JLLM) is currently working on these transactions. It is understood that a number of funds from Israel have bought large tracts of land in Goa and are scouting for more land and property elsewhere.
According to Anuj Puri, chairman & country head, JLLM, “Currently, there are liquidity issues in Indian real estate market. Hence, funds from Israel and Russia will bring relief to Indian developers. Since PE players are investing in Indian properties that are FDI compliant, the funds will be invested in the ongoing construction of properties over 50,000 sq m in size. They cannot invest in ready property.”
While Gaziz Globe is investing in various retail projects, Big Shopping Group is investing in new retail projects in Pune and Mumbai.
Meanwhile, Mirax, Russia, is evaluating the feasibility of investing in developments in Mumbai. Kardan Group, Israel, is also investing in an SEZ in Pune.

India Investment Property » Amp

Indiareit buys Rs 300 crore stakes

Gaziz Globe And Big Shopping Group From Israel To Invest In India