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Indian realty major Unitech gets USD 700 Million Investments

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As per to the sources saying @ the www.propertykhazana.com, Lehman Brothers – a realty associates is planning to invest in Unitech’s Realty Ventures in Mumbai at the cost of USD 700 Million. Going in detail USD 4 Million global PE fund team Lehman Bro’s are planning to beat three separate contracts with Unitech and is investing an amount of USD 525 Million. USD 175 Million is an extra investment invested by Lehman’s for Unitech’s Santa Cruz Venture in Mumbai.
As per to the buzz in the realty sector, Lehman is in discussion with the Unitech for the same share in 2 ventures of 1 Million Sq.ft each in Santa Cruz venture and this involves investment of about USD 350 Million. These 2 contracts are expected to be finalized in couple of months. It is also reported at the www.propertykhazana.com that Lehman and Unitech might sign one more contract together to develop 1 Million Sq.ft commercial space in Worli, this contract will be completed shortly as the discussion of this case has reached to a higher stage.
Lehman is eager to invest USD 175 Million in the venture and Unitech will have 50% equity in Worli venture. Unitech says Lehman realty firm is ready to invest about USD 175 Million on the Western Expressway of Mumbai.
This year, Unitech Shares are close to 60% and has gained 5.6% on BSE at Rs. 197.80 by following the statement of the contract and an occupant flow in the market. Standard BSE Sensex has gained 1.36%. Lehman has got 50% equity in SPV developing 1 Million Sq.ft of the venture of 18 Million Sq.ft of commercial space in Santa Cruz. Western Expressway a JV of Unitech and Local Mumbai developer who posses whole venture. JV has rid 50% share in SPV in favor of Lehman and the contract is valued at Rs. 26,640 Crores. Global Credit disaster – RBIs Policy is lending to realty and dropping of stocks has forced Indian real estate firms on the back-foot. Leading developers DLF and Unitech has overdue their commercial trust share auction in Singapore, even the borrowings from banks are largely gone up. Small group developers are experiencing a huge chomp in the lack of bank credit and are forced to borrow at overpriced rates from NBFC and HNIs. PE has come out as the possible choose, but the PE players are utilizing the altered situations to their benefit, forcing developers to resolve for less appraisal of property, the main property for developers. For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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