Jai Corp to raise Rs 40,000 cr in Realty

October 12, 2007	(Be the first to rate this story!)  Loading ...
Print This Story   Email This Story Subscribe Newsletter

Jai Corp Ltd, a Mumbai-based company, has plans to raise a venture capital including the investment of Rs 40,000 crore through its wholly owned subsidiary, Urban Infrastructure Venture Capital Ltd. The company has already made whopping investments worth Rs 22,000 in 12 cities in India.

UIVCPL is an Indian advisor to Urban Infrastructure Real Estate Fund (UIREF), a Mauritius-based offshore fund which holds investments interest in Indian real estate.

Shedding light on the profile of Jai Corp, it is serving as a major contributor in the development of Special Economic Zone (SEZ) in addition to Reliance industries Ltd. Now, the company is considering coming up with one of the largest SEZ in the country.

Other SEZ projects being funded by jai Corp includes two multi products SEZ located in proximity to Mumbai - Navi Mumbai SEZ (NMSEZ) and Mumbai SEZ (MSEZ).

These projects are being developed as the most exclusive business hubs and gateway for trade, commerce, industry, service and tourism in India.

Regarding the NMSE, the project will be a product of joint venture between the City and Industrial Development Corporation (CIDCO) of Maharashtra which holds 26% whereas RIL holds the rest with Jay Corp.

Of the total SEZ area, 15% will be used for residential purpose while remaining 85% will cater commercial purposes. According to the estimates, both the SEZs will be developed with an investment of $5.4 billion.

News Published Under:   Real Estate Developers |

Comments