Kotak Realty invests Rs 244 crore for early completion of Marina Mall

Kotak RealtyBy Accommodation Times Bureau


To aid the completion of Marina Mall in Chennai, Kotak India Real Estate Fund has invested Rs 244 crore in OMR Mall Developers Pvt. Ltd. (OMRD), said a top executive of developer Allied Housing.

“We have raised Rs 244 crore from Kotak India Real Estate Fund through the issue of secured non-convertible debentures and the funds would be used for the early completion of the Marina Mall on OMR,” said A. Abdul Wadood, MD, Allied Investment and Housing (Allied Housing).

The 5.40 lakh sq.ft. mall would also house a 126-room hotel and the developer has 33% stake in the project.

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