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DivyaSree & ADIA to develop commercial projects in India’s major cities

Infra News - Published on Thu, 16 May 2019

Image Source: Real Estate - MagicBricks
ET reported that DivyaSree Developers and Abu Dhabi Investment Authority (ADIA) plan to develop 15 million square feet of commercial projects across India’s major cities in the next five years. In March, Kotak Investment Advisors (KIAL) launched a USD 400-million India Office Assets Fund I, anchored by a wholly-owned subsidiary of the ADIA, with DivyaSree Developers as the development partner and property adviser. While ADIA is putting in USD 200 million in one of the largest dedicated commercial office development platforms announced in India, the balance will be put in by KIAL and DivyaSree Developers.

Mr Bhaskar N Raju, managing director, DivyaSree Developers, said that “The first transaction of 3.2 million sq ft is already under development by DivyaSree. The total equity requirement will be USD 250 million square feet.”

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Posted By : Rabi Wangkhem on Thu, 16 May 2019
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