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IFC and EAF to invest Rs 556 crore in residential projects under Provident BrandIFC, a member of the World Bank Group, and IFC Emerging Asia Fund (EAF) have partnered with the Puravankara Groupa leading real estate
conglomerate in the countryto invest in the development of up to four residential projects under the Provident brand that is focused on affordable housing. Two of these four projects are planned in
Kochi and Bengaluru with a saleable area of 4.5 million sf/ft. About 4,000 housing units will be built in the next five to seven years, with other projects to be identified by 2021.
IFC and EAF s partnership with Provident will allow for quick scaling-up of the company s vision to
India
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Karnataka
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