In the Real World – The Week that was – Feb 9

Key news

  • Blackstone along with Embassy and HDFC, have agreed to buy Vrindavan Tech Village built by Assetz Property Group for 19.5 billion rupees ($367 million)
  • IFC looking to invest $50M in Tata Housing’s affordable housing arm Smart Value Homes. SVH will use the funds to build affordable housing near industrial clusters in the 10 largest metros in India
  • DLF plans to raise Rs 2,100 crore by selling 8.1 crore shares to qualified institutional buyers by April
  • Udhayam Theatre complex, a nearly 1.4-acre plot at Ashok Nagar in Chennai is back on the block for a potential sale. Court-appointed receiver has called for bids, The upset price has been set at Rs 95 crore
  • Hiranandani has offered to buy out its London AIM-listed investment arm Hirco Plc. for 55 million pounds
  • Prestige has entered into joint development with KL Hitec Secure Print for a 5.8 acre of prime land located at Hitec City in Madhapur, Hyderabad
  • Rishi Agarwal-led ABG group is in talks with real estate developers to sell its prime two-acre land parcel at Worli in Mumbai
  • Orbit is in talks with local developers to sell stakes in four projects – three redevelopment projects in central and south Mumbai, and a 17-acre slum rehabilitation project in Santacruz
  • Fedex leases 1,15,000 sq ft office space at Kanakia Spaces’ commercial project Bloomberg
  • Voltas, has sold its prime office building in Fort to a HNI for over Rs 40 crore
  • Delhi-based Panacea Biotec and Bestech Group will jointly develop a township project over a 100-acre plot owned by Panacea in Gurgaon fetching the pharma company over Rs 750 crore in revenue
  • Hiranandani Group is in a race to build Bangladesh’s first liquefied natural gas (LNG) terminal in Moheshkhali Island in the Bay of Bengal.

Warm Regards

Berinder Sahni CFA MRICS

Director

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