PE money in real estate down 20%
Private equity investment in India’s real estate sector declined by around 20.2% to $831 million (about Rs.3,740 crore) in the first five months this fiscal due to sluggish demand.
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CBRE poaches top Credit Suisse execs
The Indian arm of CB Richard Ellis (CBRE), the global real estate consultancy giant, has poached two top real estate fund managers from another global financial major, Credit Suisse.
Milestone directors to decide on new CEO soon
The Board of Directors of Milestone Capital would meet in a couple of days to decide on a successor to Ved Prakash Arya, Managing Director and Chief Executive Officer of the private equity company.
ASK Property Investment Advisors to raise Rs 10 bn by December
India’s ASK Property Investment Advisors aims to raise a Rs.10-billion ($219 million) fund by December in a bet on the long-term case for property in Asia’s third-largest economy, said a top official.
Shriram Properties may get $125 million PE fund
Shriram Properties, which wants to refinance projects under development and acquire distressed real estate assets may get $125 million PE fund by private equity arms of JP Morgan, IL&FS and Morgan Stanley.
Realtors exploring alternative channel of funding
As India’s realty sector goes through a liquidity crunch with banks tightening lending norms and property sales dropping, real estate developers are turning to alternative channels of funds.
Xander to invest Rs 240 crore in HCC Concessions
US-based investment firm Xander Group will invest Rs.240 crore in construction and civil engineering major HCC Infrastructure.
Spencer’s eyes foreign ties
Spencer’s has initiated stake sale talks with a foreign retailer on hopes that foreign direct investment will be opened up in multi-brand retail.
Buyers allege project delayed, realtors say not denied
Delay in real estate projects is something that invites disapproval and criticism in the collective consciousness.
Bank lending to realty won’t decline
Though the Reserve Bank of India has laid out strict due diligence standards for banks for sanctioning loans to the real estate sector, industry experts believe lending to the sector will not decline.