The Real Estate Fund to invest in Omkar’s upcoming Worli Project
Mumbai: Omkar Realtors &Developers today announced the closure of a 200 crore funding, by INDIAREIT Fund for a premium residential project at a prime location in Worli, having a development potential of over a million sq. feet.
In spite of the overall sentiment of the market being low, Omkar’s resilience and efficiency has enabled it not only to launch 4 projects in Mumbai in the last 6 months, but also receive an overwhelming response for each of these projects. INDIAREIT sees great value in Omkar’s capabilities and track record.
Commenting on this development Mr. Babulal Varma, MD, Omkar Realtors and Developers said, “Omkar believes in building better lifestyles as well as providing asset value appreciation for their customers and investors. Our pipeline of projects and our professionalism have helped us build credibility in the market. We are happy to be associated with a reputed PE Fund like INDIAREIT. We envision extensive expansion plans within Mumbai and plan to develop many such exclusive residences.”
Mr. Ramesh Jogani – CEO & MD of INDIAREIT Fund Advisors, while commenting on this development said, “We are excited at the opportunity to forge a partnership with Omkar for this project and this investment is a validation of our belief in the developer and his capabilities as also the location.”