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Tuhin Parekh, Senior Managing Director and Head of Real Estate - India, Blackstone
Real Estate

Tuhin Parekh, Senior Managing Director and Head of Real Estate - India, Blackstone

Under the leadership of Tuhin Parekh, Senior Managing Director and Head of Real Estate - India, Blackstone's real estate operations has acquired Embassy Industrial Parks (EIP) across India from Warburg Pincus and Embassy Group for an enterprise value of $700 million. This is known to be among t...

Under the leadership of Tuhin Parekh, Senior Managing Director and Head of Real Estate - India, Blackstone's real estate operations has acquired Embassy Industrial Parks (EIP) across India from Warburg Pincus and Embassy Group for an enterprise value of $700 million. This is known to be among the largest deals in the country's emerging warehousing sector. The transaction has been executed in two tranches. In the first tranche, Blackstone acquired 10.6 million sq ft for $400 million from private equity firm Warburg Pincus Inc. In the second tranche, it will buy the remaining 11 million sq ft for $300 million. Logistics is one of the firm's core investment themes globally. Since 2010, Blackstone has acquired more than 1.2 billion sq ft of logistics. It is a global leader in real estate investing. The firm's real estate business was founded in 1991 and has $196 billion of investor capital under management. And, acquiring EIP seems like another strategic move by Blackstone, one of the world's largest property owners! 

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Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

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Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

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Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

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