By Accommodation Times Bureau
Godrej Properties, the real estate development arm of the Godrej Group, today announced creation of a residential development platform with Rs 7.7 billion of equity commitments comprising of a group of global investors led by Dutch pension services provider APG, one of the largest pension fund managers and real estate investors in the world.
The investor group also includes Sparinvest Property Fund II, a global real estate fund-of-funds managed by Sparinvest Property Investors.
Pirojsha Godrej, managing director & CEO, Godrej Properties (Q,N,C,F)* said, “We are excited about this association with a global investor group led by APG, which will enable GPL to source deals with large capital requirements in our focus markets of Mumbai, NCR and Bangalore. This is an important growth opportunity for GPL which will allow us to extend the number of projects in our portfolio while maintaining our capital efficient land sourcing strategy.“