Rashmi

Indiareit ties up with Skyline for real estate projects

Leading Realestate Fund, Indiareit Fund Advisors today said it was planning to raise an additional Rs 700 crore to its kitty of Rs 1300 crore.

The Fund had already committed to projects worth Rs 1,000 crore spread over five cities in the country. Mr Jogani was here to seal a tie-up with Bangalore-based Skyline Constructions for taking up Rs 700 crore worth projects in Karnataka over the next three years.

Indiareit would fund around Rs 225 crore to Skyline for nearly 17 projects, including one in Mysore covering an area of 3.5 million sq ft and over 2,300 residential units. He said Indiareit had funded projects in Mumbai, Pune, Chennai, Hyderabad besides Bangalore.

He said besides these projects the Fund would also support Skyline in its future endeavours, including projects in Mangalore, Chennai and Kochi, taking the presence of of Skyline to over 25 million sq ft of developed area, including five million sq ft of commercial space and integrated townships.

Source - newkerala.com
Date: 09/08/07