REIT Enters Into Joint Venture to Invest in WB

May 15, 2007	(Be the first to rate this story!)  Loading ...
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The real estate dynamics of West Bengal are changing at a fast pace. Recently, a London based real estate player REIT Asset Management has teamed up with an NRI entrepreneur to invest a whopping $20 million to develop two mini-townships.

REIT plans to create $1bn assets in India over the next three years, has entered into a joint venture with Eden Realty Ventures Private Limited, lord over by US based Indrajit De, to establish various real estate projects at Bonhooghly in North and Maheshtala in South in greater Kolkata area.

Both of these projects will involve a cash investment of $20m in addition to collaterals for bank finances, says Sachchidanand Rai.

REIT has also settled on three other real estate projects in India out of 140 proposals. Of these three, two are to be developed by the company itself, explains Rai.

The projects will help the company to carve a substantial niche in India and blossom its relation with the state and the city. Also, Eden Realty Ventures Private Limited feels proud to associate with a prestigious real estate company, REIT, says Indrajit De.

REIT Asset Management manages real estate assets valued at over $6.8 billion globally.

News Published Under:   Real Estate Developers |

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