IFC, Sunteck Realty partner for Rs 7.5 bn eco-housing initiative

22 Sep 2023 CW Team

The International Finance Corporation (IFC) is teaming up with Sunteck Realty, a construction firm based in Mumbai, to establish a collaborative platform with investments of up to Rs 7.5 billion. Their goal is to develop approximately 12,000 high-quality housing units spread across four to six eco-friendly housing projects within the Mumbai Metropolitan Region (MMR) in Maharashtra, India.

IFC's proposed investment in this venture amounts to Rs 3.3 billion ($40 million), while Sunteck Realty will contribute the remaining funds. The MMR, with a population exceeding 22 million, stands as India's largest and most active housing market, grappling with a substantial housing shortfall.

The IFC-Sunteck joint venture is centered on creating large-scale housing projects in the outskirts of Mumbai city to cater to the mid-income demographic.

Kamal Khetan, CMD of Sunteck Realty, expressed enthusiasm about the partnership, stating, "We are delighted to collaborate with IFC in our shared mission to address India's housing shortage. Our diverse range of offerings provides top-notch amenities and an enhanced lifestyle for people across all segments of the population. This strategic partnership underscores our ability to develop high-quality, large-scale housing projects in the MMR and aligns perfectly with our vision of sustainable and eco-friendly housing solutions."

Wendy Werner, IFC Country Head, India, noted, "This investment aligns with our strategy to foster more inclusive and equitable cities by supporting affordable and environmentally friendly housing through partnerships with reputable firms like Sunteck Realty. It also bolsters the Government of India's 'Housing for All' initiative, delivering essential societal benefits such as shelter, safety, employment opportunities, wealth creation, and improved access to credit."

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..