Assetz Property To Float $250 Mn Project Fund


Singapore-headquartered real estate developer Assetz Property is floating a $250 mn fund to invest across mid income residential projects in India. “We are reasonably institutionalised and have the capability to provide transparency and higher fee to investors. The fund raising will be completed in the next one year,” said a person close to the development. The proposed fund will be used to buy land parcels to develop 15mn sqft of residential projects across Bengaluru apart from venturing into newer geographies like Pune, Chennai and Hyderabad.

The new fund will invest in building properties between Rs.3700 and Rs.5500 per sqft with majority of the money earmarked for Bengaluru. Assetz recently raised Rs.900 crore from financial institutions including Altico Capital, HDFC Bank and Aditya Birla Finance to expand its residential portfolio in Bengaluru.

Assetz Property segregated its business in India into three verticals to raise funds separately. In August last year, Sydney-headquartered LOGOS Group raised $400 million and entered into a partnership with Assetz Property to launch its operations in India and raise a new fund. The two partners set up, LOGOS India, a standalone platform to develop assets worth $1 billion.