maverick
03-12-2007, 06:49 AM
More and more funds from Proprietary Desk in the US, and private Equity from the Middle East-especially Dubai, and from the Government of Singapore are flowing into Real Estate concerns, but this time action has moved from the Big League to mid-cap concerns like DS Kukarni, Lok Housing and Marg Construction.
Additionally unlisted entities like Vatika are drawing in fresh money from Goldman Sachs, and these fund transfusions are in addition to capital received by AnantRaj, Parsvnath, DLF, Unitech, Vijay Shanthi, HDIL and Omaxe-the last two finding Equity as unlisted entities.
Now CapitaLand of Singapore is ready to put $ 250 mn into Malls....so read on...another innings in the Real Estate chapter is commencing:
Singapore's CapitaLand Ltd., one of Asia's largest listed property companies, has established a $600 million fund that will invest in retail mall developments in India, the company said.
CapitaLand holds a 45 percent stake worth $272 million in CapitaRetail India Development Fund, and the remaining stakes are held by insurance companies, pension funds and corporations, it said in a statement late Thursday.
CapitaLand did not identify the other stakeholders.
India is one of the world's fastest growing economies, expanding at more than 9 percent a year, with a growing middle class that is eager to spend money as people seek to upgrade their lifestyle.
"We are conscious of the vast opportunities presented by India's retail real estate market, driven by the country's strong macro-economic growth and rapid urbanization, " said CapitaLand Chief Executive Liew Mun Leong in the statement.
"Over time, we expect to deepen our retail and fund management presence in India to become a significant long-term retail real estate player there."
CapitaLand is 42 percent-owned by Singapore state investment company Temasek Holdings Pte. Ltd. Its key markets are Singapore, China and Australia. It is expanding with new developments in Vietnam, Thailand, India and the Middle East.
Additionally unlisted entities like Vatika are drawing in fresh money from Goldman Sachs, and these fund transfusions are in addition to capital received by AnantRaj, Parsvnath, DLF, Unitech, Vijay Shanthi, HDIL and Omaxe-the last two finding Equity as unlisted entities.
Now CapitaLand of Singapore is ready to put $ 250 mn into Malls....so read on...another innings in the Real Estate chapter is commencing:
Singapore's CapitaLand Ltd., one of Asia's largest listed property companies, has established a $600 million fund that will invest in retail mall developments in India, the company said.
CapitaLand holds a 45 percent stake worth $272 million in CapitaRetail India Development Fund, and the remaining stakes are held by insurance companies, pension funds and corporations, it said in a statement late Thursday.
CapitaLand did not identify the other stakeholders.
India is one of the world's fastest growing economies, expanding at more than 9 percent a year, with a growing middle class that is eager to spend money as people seek to upgrade their lifestyle.
"We are conscious of the vast opportunities presented by India's retail real estate market, driven by the country's strong macro-economic growth and rapid urbanization, " said CapitaLand Chief Executive Liew Mun Leong in the statement.
"Over time, we expect to deepen our retail and fund management presence in India to become a significant long-term retail real estate player there."
CapitaLand is 42 percent-owned by Singapore state investment company Temasek Holdings Pte. Ltd. Its key markets are Singapore, China and Australia. It is expanding with new developments in Vietnam, Thailand, India and the Middle East.