EMAAR PROPERTIES



But the most active investors in the Indian real estate sector have been Gulf-based developers and institutional investors. Emaar Properties, which has established a joint venture in Delhi - with ambitious plans to develop mega townships and commercial complexes in north India - has taken up several projects in Hyderabad, Kochi and other cities. Other major Gulf investors include Global Asia Real Estate Fund (which has raised $75 million to invest in the realty sectors in India and China), Dubai Properties, the Palmon group (which recently invested in a project in Mumbai, and has lined up others in Bangalore and Hyderabad), the Signature group, a Dubai-based asset management firm, which plans to raise over $650 million through real estate funds, for investments in India and the UAE. Indian developers have also been active in recent weeks, raising funds around the globe. The Alternative Investment Market (AIM) on the London Stock Exchange has proved to be the most popular one for Indian realty developers. Nearly a dozen Indian companies have raised $1.25 billion through the AIM in recent months. The Hiranandani group of Mumbai (which is also involved in building a 90-storeyed residential tower in Dubai). raised over $ million through its subsidiary. Hirco Plc, at the AIM receUnitech Ltd got about $700 million, while a K. Raheja Corp - sidiary (Ishaan Real Estate) raised $340 million, and West Pioneer Properties about $40 million. About a score of other Indian companies, mainly in the real estate sector, are plannir raise $2 billion in 2007 through LSE's AIM. Yatra Capita. Indian property fund based in Jersey, raised about $132 millior on the Euronext exchange in Amsterdam last months.



















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