In the Real World – The Week that was – Week 24 May

From: Berinder Sahni
Date: Fri, May 24, 2013 at 6:40 PM
Subject: In the Real World – The Week that was

Key news

· An affiliate of Qatar Investment Authority is holding discussions to invest about $200 million, Rs 1,200 crore, in RMZ Corp

· Infoline Ltd (IIFL) has invested Rs. 110 crore in a proposed residential project in Ghaziabad being developed by Shipra Group

· IIFL Domestic Real Estate Series 1, invested an additional Rs.30 crore in a Mumbai redevelopment project of Ruparel Realty

· Kumar Urban Development raised Rs 80 crore ($14.4 million) for its 100-acre township project in the city from ICICI Prudential

· Mukesh Ambani and Anand Jain, co-promoters of Navi Mumbai SEZ, planned to denotify the 2,140-hectares SEZ land and develop the same as an IT park and an integrated township which would include residential complexes, shopping malls, multiplexes, hotels, schools, colleges and hospitals

· Gaursons has bought 300 acre land on Yamuna Expressway in Greater Noida from Jaypee group for over Rs 1,500 crore to develop an integrated township

· Shapoorji Pallonji has called off its plans to foray into the real estate private equity space, as the company has not been able to raise a corpus of USD 500 million

· Cadbury House on Pedder Road is up for sale and could fetch Cadbury India around Rs 450 crore. Besides office space, the premises include the eight-storey Bournville Apartments that house top officials of the company

· Blackstone’s buyout of of Vridavan Tech Village in Bangalore with an investment of around Rs 2,000 crore has been stalled just before the closure stage

· Indiareit Fund Advisors, which has recently forayed into project development through its residential development arm called Address Makers, has launched its first project at Sarjapur Road in Bangalore

· Thomas Cook (India) is looking to monetize its land assets

· ABU Dhabi-based Rotana Hotel Management will hoist its flag on Indian soil in 2016, as it plans to open some 20 hotels in the country within the next decade

· Puravankara Projects’ offer to sell 2.37 crore shares to institutional investors was oversubscribed 1.5 times

· Omaxe raises $9 million in partially subscribed share sale

· Everstone Capital has raised $250 Mn (over R1350 Cr) from global investors to build industrial warehousing in the country

· Piramal Sunteck plans to invest Rs.280 crore in fiscal 2014

· The Karnataka government plans to set up a 1,000-acre textile park at a cost of Rs 1,000 crore in the Assembly constituency of Gurmitkal in Yadgir district

· International – BlackRock is buying private equity property company MGPA in a move that will swell the US investment manager’s global real estate assets to around $25bn (€19bn).

Warm Regards
Berinder Sahni CFA MRICS



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