Omkar Realtors &Developers has raised Rs.200 crore funding, by INDIAREIT Fund for a premium residential project at a prime location in Worli, having a development potential of over a million sq. feet. The said fund is to invest in Omkar’s upcoming Worli project.
In spite of the overall sentiment of the market being low, Omkar has not only launched 4 projects in Mumbai in the last 6 months, but also attracted Indiareit funding that sees value in Omkar’s capabilities and track record.
Commenting on this development Babulal Varma, MD, Omkar Realtors and Developers said, “Omkar believes in building better lifestyles as well as providing asset value appreciation for their customers and investors. Our pipeline of projects and our professionalism have helped us build credibility in the market. We are happy to be associated with a reputed PE Fund like Indiareit. We envision extensive expansion plans within Mumbai and plan to develop many such exclusive residences.”
Ramesh Jogani – CEO & MD of Indiareit Fund Advisors said, “We are excited at the opportunity to forge a partnership with Omkar for this project and this investment is a validation of our belief in the developer and his capabilities as also the location.”
