Google News
spot_img

Israeli firm to invest in Indian real estate

Must Read

Israeli firm Gazit-Globe Ltd has decided to invest US$110 million in an Indian real estate investment fund backed by Housing Development Finance Corporation Ltd (HDFC).

The Israeli firm is making the investment through a subsidiary that will be one of the four anchor investors in the fund, according to a company release. This will give the company a seat on the fund’s investment and other committees as well as co-investment options in the real estate projects that the fund invests in, the release said.

The investment forms part of the company’s strategy to expand its business in Asia.

The fund, Hiref International LLC, established by HDFC and registered in Mauritius has already received USD750 million in commitments. HDFC will make a co-investment of USD50 million alongside Hiref.

Hiref International will make direct and indirect investments in real estate projects in India, including in special economic zones (SEZ), technology parks, industrial parks, hotels and other recreation projects, commercial and entertainment centres, and residential projects.

The fund will have a nine-year lifespan, with two one-year options to extend.

– Bangalore Bureau

Latest News

Digital Icon : Parth Patel

As the e-commerce head for Kisna & Diamond Jewellery, Parth Patel has a passion for leveraging digital platforms to...