IDFC Alternatives, the asset management arm of infrastructure finance company IDFC Ltd, is looking to raise a $300-million ( Rs 2,000 crore) fund to invest in the Indian real estate sector, people close to the development said. While some of the earlier real estate-focused funds raised under the IDFC Alternatives umbrella were bullish on the… Read More »
Blackstone, the largest alternative assets manager in the world, has started discussion with partners and its bankers on consolidating its office properties in this country, with the idea of floating a real estate investment trust (Reit), said a senior executive. Blackstone and its partners, the Bengaluru-based Embassy and Pune-based Panchshil, own about 35 mn sq ft of… Read More »
Private equity investments in January-March amounted to $ 3.1 billion through 160 transactions, registering a moderate 2 per cent decline in terms of deal value over last year, says a PwC report. In comparison with the year-ago period, there was a considerable decline of 24 per cent in terms of deals numbers. January-March 2015 quarter had seen… Read More »
Software major Wipro has sought the government’s nod to set up an IT special economic zone (SEZ) in Kolkata. The company’s application will be considered by the inter-ministerial body, Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, in its meeting on June 22. Wipro has proposed to set up IT/ITeS SEZ over an area of… Read More »
Real Estate Investment Trusts (REITs) may soon become a reality in India with the market regulator set to further relax rules that would allow these vehicles to broad-base their avenues of investments. The Securities and Exchange Board of India (Sebi) will allow REITs to invest more in under-construction projects, rationalise unit holder consent for related… Read More »
Realty developer K Raheja Corp has started the process to sell around 20% stake in its commercial or income-producing office portfolio spanning 20 million sq ft, said two persons familiar with the development. The company is looking to fetch Rs 2,700 crore to Rs 3,000 crore through this stake sale. “While the intention to list… Read More »
A housing boom in China’s wannabe “Silicon Valley” of Shenzhen risks undermining the city’s tech boom as young professionals consider moving out to avoid the highest residential prices in the country. In the space of four decades, Shenzhen has transformed itself from a fishing village into a manufacturing centre and now a tech hub – attracting… Read More »
Private equity funds are exiting residential real estate investments primarily through the refinancing route at the end of their investment tenure as against the normal process of cash flow accruals. Instances of several fund exits in recent months show that delays in projects and slow sales have made it tough for property developers to repay… Read More »
The state government has permitted the AP State Road Transport Corporation (APSRTC) to covert its vacant land into commercial use zones (CUZs) or multiple use zones (MUZs). All the urban civic bodies and urban development authorities as well as the Capital Region Development Authority in Amaravati will be allowed to use the CUZs and MUZs.… Read More »
Aequs, which owns special economic zone (SEZ) at Belagavi where it runs aerospace and automotive businesses, looks at consolidating its position in the aerospace business, in the next five years. “We have enough order book with us and quite good acquisitions abroad. Our SEZ also houses leading technology companies in aerospace. Now we want to… Read More »