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« Ongoing Office Space Trends in India | Home | Delhi Govt. to Construct Low Price Houses for EWS »

Gazit-Globe Plans $110m investment in HIREF

Gazit Globe, a real estate company listed on the Tel Aviv Stock Exchange, is planning to invest $110 million in Hiref International LLC, an Indian real estate investment fund registered in Mauritius.

HIREF International is the real estate fund set up by HDFC. The latter will make a co-investment of $50 million alongside. The life period of the fund will be nine years, with two one-year options to extend.

Gazit-Globe will invest in Hiref through a subsidiary that will be one of the four anchor investors in the fund. The move will help the company to secure a significant place on the fund’s investment and other committees along with the co-investment options at the company’s discretion in construction projects that the fund will put money into.

Hiref International will invest in Indian real estate in both direct and indirect ways. The projects will also include the development of Special Economic Zone (SEZ), technology parks, industrial park, hotels, and other recreation projects. With the investment in Hiref, Globe Gazit is looking forward to expand its horizons in Asia.

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