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Unitech Realty Fund raises USD 300 Million

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India’s No.2 scheduled developer Unitech Ltd. has opened real estate fund and the company’s representative said to www.propertykhazana.com that, “Unitech has raised USD 300 Million from international investors for the firm’s ventures. This is the initial portion of investment and an additional USD 300 Million will be invested by September.” But he refused to name the investor. Unitech Senior Executive hinted that, “Japanese bank and some Europe based loaded persons are the investors in the Unitech International Realty Fund.”
Property firms follow the private equity investors to surge over the cash chomp cause by the increase of lending rates, high prices rise and dropping stock markets. Unitech Ltd. a month ago had sold its 50% share of the commercial realty venture in Mumbai to Lehman Brothers Realty associates for USD 175 Million and it was also gazing for private equity investments for about USD 1 Billion for its hotel and other ventures. For more updates on real estate market browse www.propertykhazana.com.
Source: NBTVLIVE

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