IFC, & Sunteck Realty create a joint platform for investing
Real Estate

IFC, & Sunteck Realty create a joint platform for investing

IFC, a member of the World Bank, has joined forces with Sunteck Realty to establish a collaborative platform with a total investment potential of up to Rs 750 crore (equivalent to US$90 million). This partnership aims to facilitate the development of nearly 12,000 housing units across four to six green housing projects located within the Mumbai Metropolitan Region (MMR). IFC is set to contribute up to Rs 330 crore (approximately US$40 million), while the remaining funding will be provided by Sunteck Realty.

The primary objective of this partnership is to embark on large-scale housing projects situated in the extended suburbs of Mumbai city, with a particular focus on catering to the mid-income demographic. Kamal Khetan, Chairman and Managing Director (CMD) of Sunteck Realty, expressed satisfaction with the collaboration, emphasizing their shared commitment to addressing India's housing shortage.

Wendy Werner, IFC's Country Head for India, highlighted the alignment of this investment with their strategy to foster more inclusive and sustainable urban development. She emphasized their dedication to supporting affordable and eco-friendly housing initiatives through partnerships with esteemed organizations like Sunteck Realty.

In summary, IFC and Sunteck Realty have formed a strategic partnership with substantial investment potential to drive the development of environmentally-friendly housing projects, addressing the housing needs of the mid-income segment in the Mumbai Metropolitan Region.

IFC, a member of the World Bank, has joined forces with Sunteck Realty to establish a collaborative platform with a total investment potential of up to Rs 750 crore (equivalent to US$90 million). This partnership aims to facilitate the development of nearly 12,000 housing units across four to six green housing projects located within the Mumbai Metropolitan Region (MMR). IFC is set to contribute up to Rs 330 crore (approximately US$40 million), while the remaining funding will be provided by Sunteck Realty. The primary objective of this partnership is to embark on large-scale housing projects situated in the extended suburbs of Mumbai city, with a particular focus on catering to the mid-income demographic. Kamal Khetan, Chairman and Managing Director (CMD) of Sunteck Realty, expressed satisfaction with the collaboration, emphasizing their shared commitment to addressing India's housing shortage. Wendy Werner, IFC's Country Head for India, highlighted the alignment of this investment with their strategy to foster more inclusive and sustainable urban development. She emphasized their dedication to supporting affordable and eco-friendly housing initiatives through partnerships with esteemed organizations like Sunteck Realty. In summary, IFC and Sunteck Realty have formed a strategic partnership with substantial investment potential to drive the development of environmentally-friendly housing projects, addressing the housing needs of the mid-income segment in the Mumbai Metropolitan Region.

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?