Red Fort Capital To Invest 3200 Cr In Realty

October 16, 2008	(Be the first to rate this story!)  Loading ...
Print This Story   Email This Story Subscribe Newsletter

Private equity (PE) firm Red Fort Capital will be investing Rs 3,200 crore by the next year to cash in on the liquidity crunch in the Indian real estate sector. The firm will pick up an average 50 per cent stake each in 10-12 projects located in equal number of cities, including the National Capital Region, Mumbai, Bangalore, Kolkata, Chennai, Pune and Hyderabad. These projects will primarily comprise residential, office spaces, budget hotels and warehousing and logistics spaces

“Since the financial crisis started last month, the number of proposals to us has increased by over 50 per cent; some of them are well-established, big developers,” Red Fort Capital Director Kuldip Chawlla said. “As more lending curbs are in place, we have lots of opportunities now. We are in the process of closing a number of transactions in many cities. We are currently talking to about 10 developers in these cities,” Chawlla added. The company would invest in affordable housing projects only, he said. “We are looking for both IT and non-IT office spaces. We are also planning to invest in about 4-8 budget hotels in tier-I and tier-II cities,” he said.

News Published Under:   Real Estate India |

Comments