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ICICI to pour USD 2 Billion into Indian Realty through ICICI Venture Funds Management Co Ltd

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ICICI, India’s largest private bank has proposed to invest USD 2 Billion through ICICI Venture Funds Management Co Ltd to tap the booming Indian market. ICICI Venture started its activities in the year 1987 jointly with New York based Tishman Speyer Properties LP. As said by the sources at the www.propertykhazana.com ICICI Venture Funds Management Co Ltd will invest on the commercial and the residential realty projects and also on land bank.
Experts says that the flourishing realty market is likely to expand its horizons and if the revealed source at the www.propertykhazana.com is considered then the Indian market is predicted to reach USD 90 Billion by 2015, which was only USD 12 Billion in 2005. Adding to the above, Moody’s Investors Service said that the Indian economy which is at present USD 906 Billion is expected to grow with another 9% by the end of the financial year 2007.
HDFC raised USD 800 million in the 2nd quarter of 2007 and ICICI is prone to beat HDFC and similarly. Sun-Apollo India Real Estate Fund LLC raised USD 630 million 2007.
Source: NBTVLIVE

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