Indiabulls gets court permission to buy Dev Property

Indiabulls Real Estate said the Justice of High Court of the Isle of Man in England has sanctioned the proposal to acquire 100% shares of Dev Development Property (DPD).
Finalization of the acquisition shall be competed by issue of fresh 13.8 crore shares of DPD and by canceling the old shares, it informed the stock exchanges.
Dev Property is listed entity at the Alternative Investment Market (AIM) of the London Stock Exchange.
It focuses on investment in commercial real estate developments for IT and ITes companies, and residential complexes in tier-1 cities in India. The firm has stake in some of Indiabulls’ projects in India.
The acquisition, announced a few months ago, is valued about $270 million.

2 Comments

  1. Posted May 9, 2008 at 1:45 am | Permalink

    There’s an immense amount of investments in real estate in the western part of the country.
    This has got may international investors , developers and outlets , inquisitive about the market.

  2. Posted May 19, 2008 at 3:26 am | Permalink

    Want to invest in real estate? Has the recent crisis put you off? Don’t worry, the sector is still swinging. Real estate will always be in demand, and now there are more ways than one to make it pay.Your elders always drilled it into you that you’ve got it made when you can buy or build your own home. This is one injunction kids all over the world are given, regardless of culture. The solidity that a piece of land gives is a great comfort. Despite the jitters the market gave you after the ‘sub-prime contagion,’ real estate is still hot. All the world’s a village now, and if you would rather avoid U.S. real estate for whatever reason, invest in international real estate, by all means. Do it through real estate stocks.The first way to do this is invest in property development companies. These guys issue IPOs, and then are traded on the secondary market. You can pick them up from either place.The second way is through Exchange Traded Funds or ETFs.If your country has recognized real estate investment trusts (REITs), these are safer than either of the previous two options. Real estate stocks are not exactly property, but give you market beating returns that are real enough. Do you agree? What have you invested in?For more view- realtydigest.blogspot.com

Post a Comment

You must be logged in to post a comment.