In the Real World – The Week that was

  • Blackstone Group and Standard Chartered Bank will together extend Rs 1,150 crore ($184 million) funding to Embassy to help the latter buy 60% stake in Vrindavan Tech Village
  • Aditya Birla Realty fund looking to invest around $10M in Acme Group’s redevelopment project
  • Arvind Ltd CMD Sanjay Lalbhai Aditya Birla are buying stakes in separate development projects of Shriram Properties
  • Unitech to sell two hotels near Delhi, land parcels in southern cities; in talks with HNIs and few leading gutka players to sell these assets.
  • Irani Zoroastrian Anjuman, which controls a 963-acre plot in Palghar, about 110-km from Mumbai, has decided to walk out of a Rs 732-crore deal with Viva Homes
  • Anant Raj is planning to sell two hotel properties in the Delhi-NCR region for an estimated Rs 900 crore as part of the company’s strategy to monetise non-core assets
  • Apeejay Surrendra Group completed land acquisition of its under-construction Hotel at Wakdewadi in Pune for over Rs 100 crore from Vascon and Credit Suisse
  • Carlson Rezidor Hotel Group is currently doing an initial negotiation with a partner for tie-up for brand development in Western part of India
  • Indiareit hits final close for new $160M domestic realty fund, commits $40M in three projects
  • ASK Group has announced the first close at $50 million of their $200 million of its offshore real estate focused fund
  • Indian real estate worth Rs 7,700cr up for sale by lenders: npasource.com

Source: Summary of various publications

Berinder Sahni CFA MRICS
Director
Unicus Advisors

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