Ishaan Picks Stakes Worth Rs 1,082-Crore In K Raheja Projects

October 24, 2007	(Be the first to rate this story!)  Loading ...
Print This Story   Email This Story Subscribe Newsletter

Ishaan Real Estate, the first real estate fund listed in the London Stock Exchange Alternative Investment market (AIM), has acquired 40% stake each which makes a total of Rs 1,082 crore in eight construction projects by K Raheja Corp.

The list of these projects are as follows: Inorbit shopping mall in Hyderabad, Inorbit shopping mall and IT park in Pune, Mindspace IT park in Hyderabad, Mindspace IT park in Navi Mumbai, two Mindspace IT parks in Hyderabad, Commerzone IT park, hotel and retail development in Bangalore, and Viverea residential development at former Hindustan Spinning & Weaving Mills site in Mahalaxmi at Mumbai.

The projects include three IT Parks, two shopping malls, and a hotel. In November 2006, the company raised a whopping £180 million in its first phase from the AIM market. The capital was to be used in K Raheja’s properties in India.

At present, Ishaan’s portfolio in India has a total of 15 million sq ft. The company has also secured leasing agreements for over 1 million sq ft. Currently, Ishaan shares are trading at around £104.

News Published Under:   Real Estate Developers |

Comments