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Sobha Developers receives additional FDI worth $ 10 million

Bangalore-based real estate firm Sobha Developers has received an additional Foreign Direct Investment (FDI) worth US$ 10 million in its Special Purpose Vehicle (SPV) from Pan Atlantic LLC, Dubai. The company will use the proceeds for its project at Hosahalli, Bangalore South, which is spread over 13.27 acres with total developable area of more than 17 lakh square feet of residential township.

Earlier in July, Pan Atlantic had invested $10 million for 40% participation interest in the venture with the company. Mirroring the heavy sell-off in the realty space, the Realty index went down by nearly 10%. Towards the end of the trading session, Real Estate index edged up a bit and closed 8.42% lower.

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