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December 13,
2007 ( PowerHomeBiz ) -Chennai, India
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Red Fort Capital, one of India’s leading international private equity real estate firms, will be investing $100 million in Chennai over a period of six months. The investment will be across low to high end residential and hospitality projects. Red Fort Capital has kicked off its activities in Chennai by acquiring residential land in close proximity to Ambattur, an emerging IT hub.
(news continued below)
Speaking at the announcement of this strategic decision, Parry Singh,
Director, Red Fort Capital Advisors said, “We are extremely excited to
announce our foray into the Chennai market. We have already acquired
residential land near Ambattur and are looking to invest $ 100 million over
a period of six months for housing projects in Chennai. We are already
talking to developers and look forward to broadening our investment program
here. “
Talking about the future of real estate in markets such as Chennai Mr.
G.B Singh, Director, Red Fort Capital Advisors said, “We see a tremendous
potential in the real estate sector in Chennai. The quality of
infrastructure is continuously improving. Chennai has emerged as an IT hub
with a host of software MNCs entering the city. Firms like Red Fort Capital
are facilitating this growth by investing in the real estate sector in
Chennai.”
Ambattur is an industrial area north-west of Chennai. Though considered a
part of Chennai, Ambattur technically belongs to the Thiruvallur district.
Closer to Anna Nagar, Ambattur is a fast developing residential localé of
Chennai.
About Red Fort Capital
Red Fort Capital is an international private equity firm with a focus on
real estate investments in India. Their investors include international
governments, pension plans, insurance companies, foundations, and
endowments. In 2007, they have already committed over $225 million to
residential, township, and office projects in India, partnering with leading
developers in India like Bangalore-based Prestige Group. The fund invests in
developers and real estate projects, as well as acquires land for the
purposes of development in the residential, office, hospitality and
infrastructure sectors. Their investments take the form of joint ventures,
equity, or mezzanine capital.
Red Fort Capital is a unique investment management firm with
professionals that have over thirty years of Indian Real Estate experience
combining International real estate development, finance and capital market
expertise. Their extensive experience encompasses all major property types–
office, residential, townships, industrial, retail, hospitality and
infrastructure.
Mr. G.B. Singh, Director, Red Fort Capital Advisors, has over 30 years of
experience in the Real Estate Industry in India having developed over 55
million square feet of space in his career including marquee projects like
the Bahai temple in New Delhi. His prior experience includes CEO and
President of Construction Division, DLF Universal where he oversaw the
construction and development of DLF’s Residential & Commercial projects.
Contact Information
Megha Sachdeva
20:20 MEDIA
megha@2020india.com
+91-9899186411
Simran Singh Sethi
20:20 MEDIA
simran@2020india.com
+91-9810815160
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