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Top 5 Indo-International Real Estate Collaborations



Top 5 Indo-International Real Estate Collaborations

In recent times, there have been a lot of joint ventures between Indo-international real estate companies

India’s growing popularity across the globe has attracted many foreign investors. Currently, India’s real estate market has several investors from international shores pouring in billions of dollars. They have collaborated with Indian developers for developing real estate projects on Indian shores as well as exotic foreign locales.

RealtyNXT lists the biggest Indo-international real estate joint ventures in recent times.

1) Shapoorji Pallonji Real Estate and Hines

Shapoorji Pallonji and global property investment management firm Hines are all set to jointly develop two phases of the Indian real estate giant’s premium residential project named Parkwest in Bengaluru. The total amount being invested in this joint venture is approximately Rs 425 crore. Hines will pay Rs 318 crore to Relationship Properties, a wholly-owned subsidiary of Shapoorji Pallonji Group to get the ownership maximum stake in phase 3 and phase 4 of the project. 

2) Piramal Enterprises and Ivanhoé Cambridge

Piramal Enterprises had earlier set up a strategic co-investment fund with Ivanhoé Cambridge to provide long term equity capital to blue-chip residential developers across the five major metro cities Mumbai, Bengaluru, NCR, Pune and Chennai. Ivanhoé Cambridge had allocated an initial USD 250 million in this fund. Together this joint venture has made an equity investment of Rs 500 crore from the Piramal Ivanhoe Residential Equity Fund in Lodha Group’s township project Palava.

3) Mayfair Housing, Ajmera Realty and Kooheji Golden Gate

Mayfair Housing and Ajmera Realty have created history by being the first-ever Indian builders to join hands with Bahrain’s Kooheji Golden Gate. The trio recently announced the launch of the Golden Gate project, which is to be the tallest residential luxury building in Bahrain’s capital city Manama. It will have 746 premium apartments which will overlook the strikingly gorgeous Bahrain Bay.

4) Blackstone Group LP and Embassy Group

The Blackstone-Embassy duo first made history earlier this year by launching India’s first real estate investment trust (REIT). Now, the American private equity giant and Bengaluru-based property developer are set to jointly acquire the entire stake of Indiabulls Group chairman Sameer Gehlaut in Indiabulls Real Estate Ltd (IBREL). The deal cost a whopping Rs 2,700 crore and will make the duo own 39 percent of IBREL’s stake.

5) Blackstone and K. Raheja

Blackstone Group paid a whopping $300 million for 15 percent in K Raheja Corp’s 20-million sq. ft. income-producing office portfolio. The duo recently beat South Korea’s Mirae Asset Global Investment to acquire Citibank India’s headquarters located at Bandra-Kurla Complex (BKC) for more than Rs 400 crore.

ALSO READ: Joint Ventures Emerge As A Solution For Crisis-hit Developers

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