UK-based 'Trinity Capital' invests in Gurgaon real estate - Indian Real Estate Forum

dewakar · 18-06-07

Hmmm......Once again Gurgaon.

Residential property prices in Gurgaon are seeing a downside but realty funds remain hot on commercial property.
UK-based 'Trinity Capital' has invested over 37 million pounds in IT SEZ, reports CNBC-TV18.

Foreign money continues to find its way to Indian real estate. UK-based Trinity Capital, a 250 million pound fund managed by Trikona Capital and listed on the alternative investment market, has acquired a 49.4% stake for over 37 million pounds, in Luxor Cyber City. The two will develop an 8.2 million sq ft Special Economic Zone in Gurgaon.

Of the total space, 4.9 million sq ft will be used for IT and IT enabled services, while 3.3 million sq ft will be developed for supporting infrastructure, such as residential projects, schools, hospitals, and entertainment zones.

There is a demand of about 16 million sq ft of IT and ITES space in Gurgaon, as against a planned supply of only about 8 million sq ft. Trikona Capital expects significant interest from IT and ITES companies for this project and hopes to reap a return of over 25%.

While the project is scheduled to start by the end of this year, it is expected to be completed by June 2012. Besides the land cost, the development value for the project is expected to be approximately 204 million pounds. Over the last one year, Trikona invested more than 150 million pounds in Mumbai and Greater Noida. Trikona is now looking to invest over 500 million pounds a year, for the next four to five years, in Indian real estate and plans to develop 50 million sq ft.

Source: moneycontrol.com

18-06-07	#1
dewakar Member Join Date: Oct 2006 Posts: 73 Thanks: 0 Thanked 0 Times in 0 Posts	UK-based 'Trinity Capital' invests in Gurgaon real estate Hmmm......Once again Gurgaon. Residential property prices in Gurgaon are seeing a downside but realty funds remain hot on commercial property. UK-based 'Trinity Capital' has invested over 37 million pounds in IT SEZ, reports CNBC-TV18. Foreign money continues to find its way to Indian real estate. UK-based Trinity Capital, a 250 million pound fund managed by Trikona Capital and listed on the alternative investment market, has acquired a 49.4% stake for over 37 million pounds, in Luxor Cyber City. The two will develop an 8.2 million sq ft Special Economic Zone in Gurgaon. Of the total space, 4.9 million sq ft will be used for IT and IT enabled services, while 3.3 million sq ft will be developed for supporting infrastructure, such as residential projects, schools, hospitals, and entertainment zones. There is a demand of about 16 million sq ft of IT and ITES space in Gurgaon, as against a planned supply of only about 8 million sq ft. Trikona Capital expects significant interest from IT and ITES companies for this project and hopes to reap a return of over 25%. While the project is scheduled to start by the end of this year, it is expected to be completed by June 2012. Besides the land cost, the development value for the project is expected to be approximately 204 million pounds. Over the last one year, Trikona invested more than 150 million pounds in Mumbai and Greater Noida. Trikona is now looking to invest over 500 million pounds a year, for the next four to five years, in Indian real estate and plans to develop 50 million sq ft. Source: moneycontrol.com

Thread Tools	Search this Thread
Show Printable Version Email this Page	Search this Thread: Advanced Search

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Gurgaon: Real Estate Prices Drop	Happy	Gurgaon	6	03-10-11 03:39 PM
Yatra Capital to Invest Rs 120 cr in Indian Real Estate	Soham	General Real Estate Discussion	0	16-05-07 11:54 AM
Merrill Lynch arm buys stake in Delhi-based realty major	varun	General Real Estate Discussion	0	07-05-07 12:16 PM
Property valuation to be based on development plans	Sonia	General Real Estate Discussion	0	26-03-07 09:40 AM