Prestige raises Rs 2,001 cr from ADIA, Kotak AIF for housing projects

02 Apr 2024 CW Team

Prestige Group, a leading real estate developer, has successfully secured an investment of Rs 2,001 crore from the Abu Dhabi Investment Authority (ADIA) and Kotak India Real Estate Fund. This substantial investment aims to fuel the development of housing projects across four major cities in India.

The infusion of funds underscores the confidence of prominent investors in the potential of the Indian real estate market and the credibility of Prestige Group as a reliable player in the industry. The collaboration between Prestige Group, ADIA, and Kotak India Real Estate Fund is expected to invigorate the housing sector, particularly in Bangalore, Hyderabad, Chennai, and Mangalore.

Prestige Group has a strong track record of delivering high-quality residential and commercial projects, making it a preferred choice among homebuyers and investors alike. The infusion of capital from ADIA and Kotak India Real Estate Fund will further strengthen Prestige Group's ability to innovate and deliver world-class properties that meet the evolving needs of consumers.

This investment comes at a crucial time when the real estate sector is witnessing a gradual recovery from the impact of the COVID-19 pandemic. It is poised to accelerate the pace of development and contribute to the overall growth of the housing market in India.

The collaboration between Prestige Group, ADIA, and Kotak India Real Estate Fund exemplifies the importance of strategic partnerships in driving sustainable development and unlocking new opportunities in the real estate sector. With this significant investment, Prestige Group is well-positioned to continue its legacy of excellence and deliver exceptional value to its customers while contributing to the economic progress of the country.

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