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India: IFC, IFC Asia fund to invest $76m in Puravankara’s residential projects
Photo: Reuters Premium
International Finance Corp. (IFC) and IFC Emerging Asia Fund (EAF) will invest $76 million in four residential projects of real estate firm Puravankara Group, to be developed under the latter’s ‘Provident’ affordable housing brand.
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World Bank group member IFC and IFC Emerging Asia Fund (EAF) have partnered with Bengaluru-based real estate player Puravankara to invest $76 million in the development of up to four residential projects under their affordable housing-focused ‘Provident’ brand. Two of the four projects are planned in Kochi and Bengaluru, with a saleable area of 4.5 million square feet. About 4,000 housing units will be built in the next 5-7 seven years, with other projects to be identified by 2021. “This strategic partnership aims to address the growing demand for housing in India by providing customers with affordable quality homes. IFC’s investment supplements Provident’s own investments in both existing and new developments,” said Ashish Puravankara, Managing Director of Puravankara Group.
IFC & IFC EAF to invest Rs 556 cr in Puravankara group affordable housing platform
NEW DELHI, Dec 17: IFC, a member of the World Bank group, and IFC Emerging Asia Fund (EAF) will invest Rs 556 crore in an affordable housing platform of realty firm Puravankara Ltd to develop up to four projects.
IFC and IFC EAF have partnered with the Puravankara Group to invest in the development of up to four residential projects under the Puravankara group’s affordable housing brand ‘Provident’.
Two of these four projects are planned in Kochi and Bengaluru with a saleable area of 4.5 million sq 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 & IFC EAF to invest Rs 556 crore in Puravankara group affordable housing platform
IFC and IFC EAF have partnered with the Puravankara Group to invest in the development of up to four residential projects under the Puravankara group s affordable housing brand Provident . PTI December 17, 2020 / 02:19 PM IST
IFC, a member of the World Bank group, and IFC Emerging Asia Fund (EAF) will invest Rs 556 crore in an affordable housing platform of realty firm Puravankara Ltd to develop up to four projects.
IFC and IFC EAF have partnered with the Puravankara Group to invest in the development of up to four residential projects under the Puravankara group s affordable housing brand Provident .