Acacia forays into Realty segment
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As per the buzz in the realty market, Acacia, a Bahrain based Realty Company succeeded in availing 49% stake in an upcoming IT Park venture in Noida. As per the source saying @ the www.propertykhazana.com the total share costing was approx. USD 69 Million, with a predictable internal rate of about 24% annually. Moreover the agreement is planned to offer the shareholders with hitch security along with the cash coupons of 8% per year and the stock period is fixed as 3 years.
The available information at the www.propertykhazana.com says that the proposed IT Park property by the side of Greater Noida Express corridor hosts 4 newly constructed commercial and office space towers with huge leasable floor area of 4,61,120 Sq.Ft which are now fully occupied by the corporate giants like Oracle and so on.
Meantime, revealing about the project progress Mr. Iqbal Mamdani said at the www.propertykhazana.com that team Acacia is conceited about the venture and thanked the Indian realty segment for giving such a good opportunity.
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