Asipac to launch real estate fund
Realty marketing and consultancy firm Asipac Projects is close to putting together a real estate fund, in association with a few institutional investors.
By TNN |
BANGALORE: Realty marketing and consultancy firm Asipac Projects is close to putting together a real estate fund, in association with a few institutional investors. The move by the company is part of a series of initiatives that will roll out in the coming months, aimed at widening the scope of the company���s services.
According to Bangalore-based company, the first fund will have an initial corpus of Rs 50 crore and will invest in real estate SPVs across the country. ���The first fund should be in place in six months. We intend to invest small amounts into SPVs, picking up a 2-3% stake in specific projects,��� said Asipac Project���s chairman Amit Bagaria.
Year 2008 will see the company launch two new strategic business units (SBUs) ��� an investment advisory services group and a construction management consultancy division. ���The idea is to be an end-to-end consultancy services company, helping clients (realty firms) raise funds for as well as help reduce material procurement costs,��� said Mr Bagaria.
As on date, Asipac Projects represents about 18 real estate firms. The company is also looking to extend its services to Indian business houses that are in the process of unlocking value from their land holdings.
According to Bangalore-based company, the first fund will have an initial corpus of Rs 50 crore and will invest in real estate SPVs across the country. ���The first fund should be in place in six months. We intend to invest small amounts into SPVs, picking up a 2-3% stake in specific projects,��� said Asipac Project���s chairman Amit Bagaria.
Year 2008 will see the company launch two new strategic business units (SBUs) ��� an investment advisory services group and a construction management consultancy division. ���The idea is to be an end-to-end consultancy services company, helping clients (realty firms) raise funds for as well as help reduce material procurement costs,��� said Mr Bagaria.
As on date, Asipac Projects represents about 18 real estate firms. The company is also looking to extend its services to Indian business houses that are in the process of unlocking value from their land holdings.
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