Indiabulls Real Estate is betting big on the real estate space. Some time back, its asset management company had floated a real estate fund and now according to sources that fund is looking to raise USD 250 million in the next six months.
The fund's domestic arm is looking to raise
Rs 500 crore out of which Rs 400 has already been raised. The fund recently
made high-end INVESTMENT into a project in Gurgaon worth Rs 100 crore.
Moreover, all the INVESTMENTS in this fund
will be in structured debt space and expect returns in range of 15-20 percent,
say sources.
Fundraising is part of companies plan to
create a billion dollar platform to basically INVEST in high-end residential
projects as well as some infrastructure projects. However, the mix will be
decided on a case-to-case basis.
SOURCE: MONEYCONTROL.COM
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