Noor Capital to Tap Indian Real Estate

June 20, 2007	(Be the first to rate this story!)  Loading ...
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Noor Capital, an Abu Dhabi based private Joint Stock Company investment house, is bullish to invest in Indian real estate. Staying in step with the same motto, the firm has set up a real estate fund to invest in Indian real estate.

The proposed fund will pick up equity on a project basis in different FDI compliant residential and commercial realty projects in India. The firm has not revealed anything regarding the amount but the sources say it to be close to $500 million.

Noor Capital is considering establishing a fund. It looks upon real estate as the first segment that the company has identified. However, it would be too early to comment on the quantum of the investment, says the company spokesperson.

Recently, a top level team had a meeting with some of the renowned builders in Delhi and Mumbai.

Noor Capital says of looking at symbiotic relationships with its Indian partners to accomplish the desired global prospective. It will largely depend on Indian real estate companies to gain a thorough understanding of the market which will further help them to get access to its global clientele.

The company is also eyeing some significant real estate projects in India and has already signed up a memorandum of understanding (MoU) with Ansal API, a prominent name in Indian property market. According to the deal, Noor Capital will invest in two of Ansals’ development projects in UP – an integrated township in Agra (Sushant Taj City) and a group housing project - Ansal Aquapolis - in Ghaziabad.

Noor Capital has a strong and multinational shareholder base across the UAE, Kuwait, Kingdom of Saudi Arabia, Qatar and Bahrain.

News Published Under:   Real Estate India |

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