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JP Morgan to Invest Rs 400 Cr in Indian Realty
| May 10, 2007 |  (1 votes, average: 5 out of 5) Loading ... |
JP Morgan Property Fund, which has already invested over USD 300 million to carve out a significant niche in Indian real estate, is soon to come up with a residential project in Chennai, with the investment of Rs 400 crore.
Arihant Foundations and Housing Ltd. (AFHL), Chennai’s leading developer of world class buildings, will develop the residential property over a large area of 45 acres of land.
The company is taking up the project in a joint venture with JP Morgan.
JP Morgan has formed a 50:50 joint venture with AFHL. This leading global financial firm targets key economic centers in India to develop real estate projects along with domestic partners.
The list includes Mumbai, Bangalore, Chennai, Kolkata, Hyderabad, and New Delhi among other major and upcoming cities.
JP Morgan Asset Management, the investment arm of JP Morgan Chase, had announced the mobilization of USD 360 million from institutional and high net worth investors (HNIs) from the US, Asia, Europe, and the Middle East to make investments in booming property market in India.
News Published Under: Foreign Direct Investment in India |
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