IREO to pump in $500 mn in India
Global investment fund IREO has announced its foray into real estate development with a portfolio of 13 projects
By ET Online |
NEW DELHI: IREO, a leading global investment fund dedicated to the Indian real estate sector, has announced its foray into real estate development with a portfolio of 13 projects located in prime locations around the country, and plans to pump in $500 million in various infrastructure projects over a period of seven years.
Anurag Bhargava, chairman, IREO, said, ���As a global investment fund, IREO has been present in India since 2003 and has steadily built a portfolio of quality executable projects in prime locations across 3,000 acres of owned land with a national footprint. IREO has now evolved as a fully-integrated real estate organization that is both the financier and the developer of its projects.���
IREO vice chairman and managing director Lalit Goyal said, ���We are in a strong financial condition and have enough cash to invest. Having already invested $1.5 billion, we still have another $500 million available in cash for further investments in our projects.���
According to Goyal, IREO has already commenced construction and leasing of a 5-million sq ft IT SEZ and the sale and construction on 3 mn sq ft of housing, and is poised to launch a number of projects that will entail development of more than 8 mn sq ft of housing in the coming 12 months.
Currently IREO has 13 projects under various stages of development and implementation in the NCR, Haryana, Punjab, Tamil Nadu and Maharashtra.
Anurag Bhargava, chairman, IREO, said, ���As a global investment fund, IREO has been present in India since 2003 and has steadily built a portfolio of quality executable projects in prime locations across 3,000 acres of owned land with a national footprint. IREO has now evolved as a fully-integrated real estate organization that is both the financier and the developer of its projects.���
IREO vice chairman and managing director Lalit Goyal said, ���We are in a strong financial condition and have enough cash to invest. Having already invested $1.5 billion, we still have another $500 million available in cash for further investments in our projects.���
According to Goyal, IREO has already commenced construction and leasing of a 5-million sq ft IT SEZ and the sale and construction on 3 mn sq ft of housing, and is poised to launch a number of projects that will entail development of more than 8 mn sq ft of housing in the coming 12 months.
Currently IREO has 13 projects under various stages of development and implementation in the NCR, Haryana, Punjab, Tamil Nadu and Maharashtra.
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