SatyaVani in talks with European REITs to raise $150 mn
Hyderabad-based real estate firm SatyaVani Projects and Consultants is in talks with European real estate investment trusts to raise $150 million in private equity.
By ET Bureau |
BANGALORE: Hyderabad-based real estate firm SatyaVani Projects and Consultants is in talks with European real estate investment trusts to raise $150 million in private equity, which will form the bulk of the $190 million it plans to spend on projects in Hyderabad, Bangalore and Visakhapatnam.
Besides private equity, SatyaVani Projects is looking at raising cash through a combination of internal accruals and private placement, company director P Surya Prakash said. He declined to name the potential investors.
A 5 million sq ft medical tourism project in Hyderabad will be the biggest, costing $120 million and consisting of two hospitals, a health resort and service apartments.
In Bangalore, it will establish an eco resort and a housing project at an investment of $50 million. The company will spend another $20 million on residential projects in Vizag.
Besides private equity, SatyaVani Projects is looking at raising cash through a combination of internal accruals and private placement, company director P Surya Prakash said. He declined to name the potential investors.
A 5 million sq ft medical tourism project in Hyderabad will be the biggest, costing $120 million and consisting of two hospitals, a health resort and service apartments.
In Bangalore, it will establish an eco resort and a housing project at an investment of $50 million. The company will spend another $20 million on residential projects in Vizag.
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