Red Fort Capital to invest Rs 3200 crore by next year
Red Fort Capital, a leading international real estate private equity fund, intends to invest Rs 3,200 crore by next year to cash in on the liquidity crunch in the real estate sector.
The real estate focused PE fund has planned to pump in Rs 3,200 crore in the next one year to pick up an average 50% stake each in 10-12 projects located in various cities.
The company presently is in talks with nearly 10 developers in various cities across country, which includes National Capital Region (NCR), Mumbai, Bangalore, Kolkata, Chennai, Pune and Hyderabad.
From last month, the company has seen 50% surge in business proposals, offered by well-established clients, big developers on the behalf of global financial crisis.
The company sees lot of opportunities now due to lending problems. It plans to invest funds in affordable housing projects only.
Apart from this, the company is looking for both IT and non-IT office spaces. In addition, it also plans to invest in about 4-8 budget hotels in Tier I and II cities.