Emaar’s Three SPVs.

Goldman Sachs, Deutsche Bank and another financial investor are thinking to make a shared investment of eight hundred million dollar in three special purpose vehicles being created by real estate major Emaar MGF. Each SPV will have one financial investor.
Delhi-based developer is in advanced talks with private equity players and is likely to close three separate deals within 30 days. No comment came from Emaar MGF on this issue. The deals will be the first big fund flow into the real estate firm since February.

Emaar MGF was enforced to withdraw its seven thousand crore rupees offering, due to poor market response. Poor market response has also enforced DLF, Unitech and Indiabulls to suspend the Singapore listing of their real estate investment trusts. Though the flow of funds into the real estate sector has not stopped, developers are not ready to go in for equity dilution at the parent company level fearing lower valuations. This has encouraged most companies to look for private equity funding at project or SPV level.

One Comment

  1. Posted May 13, 2008 at 5:56 am | Permalink

    Emaar MGF may be issuing your IPO in the coming July which they wants to covers the level of the development.After this Launching that IPO they can achieve all the fourthcoming targets.

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