Ayala to develop Indian housing project
Arch Capital Asian Partners L.P, a real estate private equity fund of the Ayala Group, has teamed up with the Mahindra Group of
Based on its disclosure filed with the Philippine Stock Exchange, Ayala Corp. said Arch Capital and Mahindra will form a joint venture company to be called Mahindra Residential Development Ltd., which will be 51 percent owned by the Indian firm and 49 percent by an Arch Capital-controlled investment vehicle.
Arch Capital recently raised $330 million from a fund-raising activity.
The project will sit on 55 acres of land within the 1,500-acre
“The Indian market is very attractive and we see many opportunities for joint development and partnerships in the future not only in residential real estate development but even in high-growth areas such as business process outsourcing. We continue to see good growth prospects in
The addition of a world-class residential community, backed by the considerable experience and track record of the Ayala Group in large-scale residential township developments, underpins
Several private equity funds including CitiGroup, Blackstone and Kotak have been investing in Indian real estate, banking on returns in excess of 25 percent.
Ayala International and property giant
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