Red Fort Will Develop Projects In Tier I And II Cities

Private equity real estate firm, Red Fort Capital, is planning to invest Rs 3,500 crore in various real estate projects in the country.

“We will be investing Rs 3,500 crore in various real estate projects in different parts of the country during the next two-and-a half years,” the company’s Director, Parry Singh, said.

The company is in the process of raising this second international fund of Rs 3,500 crore and would close in the second-half of 2008, he said.

Currently, the company is investing from its first international fund of Rs 1,500 crore, raised in 2006 from institutional investors.

The company would develop the projects mainly in Tier I and II cities.

“We are open to opportunities. Mainly, we would focus on Tier I and II cities. However, we are open to develop projects in Tier III destinations as well,” he said.

Red Fort invests in development projects across all its stages such as land acquisition, development, sales and marketing and maintenance. It also invests in low-cost housing projects across the country.

3 Comments

  1. sandeep asthana
    Posted June 21, 2008 at 8:43 am | Permalink

    i want to know about Red Fort.
    As i am working in the real estate market of Jaipur for the past 2 years.

  2. Posted June 23, 2008 at 5:03 am | Permalink

    Red Fort Capital, an international private equity fund, is planning to invest Rs 3,500 crore in the country’s real estate sector during the next one year. The money will be invested in real estate projects — commercial, residential and retail — as well as land acquisitions. It has also launched a domestic fund few weeks back through which it plans to raise Rs 1,000 crore. The proceeds would be deployed into non-foreign direct investment projects. Construction has begun for Prestige’s project in Bangalore, Indu project in Hyderabad, Chennai and NCR, Delhi. The company is looking at property investments in about 15 other cities that have high income and employment growth and cheaper land. The company will target the middle income groups, earning between Rs 6 lakh and Rs 11 lakh per annum. Red Fort will develop the low-cost houses in partnership with the Bangalore-based Prestige Group and Hyderabad-based Indu Project and will have around 40-80 per cent stake in the projects. Red Fort is in the final stages of discussion for investing in budget hotel chains. It plans to capitalize on its existing land bank of over 1,000 acres pan India. It has land in North Mumbai, Kolkata, Pune, Chennai, Hyderabad and Delhi.For more view- http://realtydigest.blogspot.com/

  3. Posted July 17, 2008 at 5:43 am | Permalink

    Private equity firm Red Fort Capital plans to invest about Rs 2,700 crore in the Indian Real estate. The firm plan to do this by 2009, the plan is also inclusive of an acquisition of 2,500 acres of land in over 20 cities across the country.

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