The Rustomjee Group is establishing an actual property improvement fund platform, Mt. Okay Kapital, which will likely be centered on residential and blended use improvement tasks within the Mumbai Metropolitan Region.
In the longer term, the $50-75 mn fund will put money into accomplished blended use business belongings throughout numerous cities. The SEBI filings for the CAT II AIF License have already been made.
Talking concerning the launch, Boman Irani, Chairman & Managing Director, Rustomjee Group, mentioned, “We take immense pride in the spaces that we’ve created. With a strong focus on the Mumbai Metropolitan Region, Rustomjee has delivered some of the best developments in real estate. We are glad to create Mt. K Kapital platform and through this, we aim to leverage our development expertise and grow our presence in the MMR while maximizing value to the investors of the fund.”
According to the corporate, this enterprise will likely be led by Binitha Dalal and Abdeali Tambawala, who convey collectively wealthy and numerous know-how in actual property and fund administration with over 15 years of expertise every with deep rooted understanding of finance and investments in the actual property sector.
Binitha Dalal, Founder, Mt.Okay. Kapital, mentioned, “We believe that now is the right time to set up the real estate development fund platform. This announcement on the 26th Foundation day of Rustomjee Group makes it special. We will work towards creating true value for our investors and keep growing the scope of this platform in times to come. We aim to bring in assets with a top line of $0.5 billion in the first fund.”
The Rustomjee Group has carved a distinct segment in the actual property sector, with a improvement portfolio of 20 million sq. toes of accomplished tasks, 9.2 million sq. toes of ongoing improvement and 16.4 million sq. toes of deliberate improvement spanning throughout the Mumbai Metropolitan Region.
The Group’s portfolio consists of two township developments in Thane and Virar, in addition to giant residential developments, workplace complexes, retail, healthcare and academic establishments unfold throughout Mumbai City in Prabhadevi, Bandra, Khar, Andheri, Kandivali, Borivali and Bhandup.
Source: www.financialexpress.com”