Dubai-based Emaar Properties is poised to plough in $150 million for a 20 to 25 per cent share each in three real estate developments in India, to burgeon its monetary interest in the countrys joint venture.
An Emaar spokesperson said: Emaar is evaluating the options of private equity investment in special purpose vehicles in India. Due diligence on potential investments are on and details have not yet been finalised.
Dubai-based Emaar Properties and MGF Developments of India jointly formed a firm in 2005 called Emaar MGF, which currently holds Indias largest foreign direct investment (FDI) in real estate through projects with a combined development value of $1 billion. Emaar real estate is now considering to pick three separate special purpose vehicles (SPVs) which will then develop two retail properties and one office property in Gurgaon and Mohali.
Source : gowealthy.com
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