The fund is targeting the development of at least 25,000 homes in the affordable and mid segments, while keeping with green building and sustainability standards
Eldeco and HDFC Capital joint platform’s cumulative revenue potential across 17 projects is estimated to be Rs 8,000 crore. Out of this, projects with estimated revenue of Rs 2,000 crore have already been launched in Panipat, Sonipat, Rishikesh and Kasauli.
The latest fund raising is the third by HDFC Capital's affordable real estate fund (H-Care 3) and the primary investor in the H-Care schemes is a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA)
The announcement was made by CREDAI at the 'NATCON 2022' annual event in Abu Dhabi on November 11.
This fundraise also saw the participation of several existing and new investors including DMI Alternative Investment Fund and US-based Top Shelf Equity Partners.
The third edition of the tech challenge will identify and award disruptive innovations in areas of construction, sales, fintech, and sustainability, the company said.
Eldeco has identified four residential developments in the Tier 2 cities of NCR, Himachal Pradesh and Uttarakhand for an initial investment of Rs 175 crore
The city-based company, which helps consumers upgrade to a new residential property in lieu of their old property, will be using the funds for geographic expansion, develop partnerships, hiring and technology platform.
Founded by Akhil Sharaf in 2018, Loyalie, which has recently been renamed as Reloy, has been working closely with top builders to create the perfect home owning journey through their customer loyalty programmes.
The existing investors of Signature Global include the World Bank’s investment arm International Finance Corporation (IFC), KKR, as well as HDFC Capital
The NIIF will invest in HDFC Capital Affordable Real Estate – 2 (H-CARE 2), an investment platform, managed by HDFC Capital Advisors, a wholly owned subsidiary of HDFC Ltd, the company said in a statement.
"HDFC Capital through it's recently raised off-shore fund has made it's first equity investment of Rs 300 crore, with Total Environment Group," the real estate company said in a statement issued here.