Oberoi Realty buys out stake in I-Ven Realty
Oberoi Realty has announced to purchase 50 per cent stake in I-Ven Realty Ltd from private equity firm ICICI Venture.
Oberoi Realty has announced to purchase 50 per cent stake in I-Ven Realty Ltd from private equity firm ICICI Venture.
Malabar Builders, the real estate development arm of jewelery retail chain Malabar Gold, is planning to launch its first township project in Mangalore with an investment of Rs.500 crore.
Foreign direct investment (FDI) in the real-estate sector last year was the lowest in four years, but private equity activity gained momentum during the recent months, according to a study by an Indian industry chamber and a global accountancy firm.
Private equity investment in India’s real estate sector declined by around 20.2% to $831 million (about Rs.3,740 crore) in the first five months this fiscal due to sluggish demand.
The Indian arm of CB Richard Ellis (CBRE), the global real estate consultancy giant, has poached two top real estate fund managers from another global financial major, Credit Suisse.
The Board of Directors of Milestone Capital would meet in a couple of days to decide on a successor to Ved Prakash Arya, Managing Director and Chief Executive Officer of the private equity company.
India’s ASK Property Investment Advisors aims to raise a Rs.10-billion ($219 million) fund by December in a bet on the long-term case for property in Asia’s third-largest economy, said a top official.
Shriram Properties, which wants to refinance projects under development and acquire distressed real estate assets may get $125 million PE fund by private equity arms of JP Morgan, IL&FS and Morgan Stanley.
As India’s realty sector goes through a liquidity crunch with banks tightening lending norms and property sales dropping, real estate developers are turning to alternative channels of funds.
US-based investment firm Xander Group will invest Rs.240 crore in construction and civil engineering major HCC Infrastructure.