RREEF Joins Hand with Golden Gate Properties

January 23, 2008	(1 votes, average: 2 out of 5)  Loading ...
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Since its entrance in the booming Indian Real Estate sector in 2007, Deutsche Bank investment unit RREEF has made its first investment of $70 million in Indian real estate firm Golden Gate Properties.

Speaking on the alliance MR Kishore Gotety, head of Deutsche’s Asset Management’s real estate and infrastructure investment advisory services in India said that the Golden Gate brand for construction is well-established in India in the middle and upper-middle class income segment which it targets

Though the size of the stake that RREEF will own has not been disclosed but it is generally thought it is a significant minority. RREEF will have the right to nominate two directors on the board of Golden Gate and will enjoy all minority protection rights typical to such investments.

The investment was driven by Golden Gate’s plans to acquire land and develop projects, say sources close to the deal.

News Published Under:   Real Estate India |

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