Navanaami Projects recently launched a luxury residential project -The Megaleio in Hyderabad. It will invest about Rs 800-900 crore on the project. It has taken loan of Rs 250 crore from Union Bank of India and rest will be funded through internal accruals.
Blackstone: The Canada Pension Plan Investment Board (CPP Investments) and The Ontario Municipal Employees Retirement System (OMERS) are the pension funds that have evinced interest in picking up the stake in this commercial real estate portfolio spread across a total 26 million sq ft in India.
Sovereign wealth funds GIC and Abu Dhabi Investment Authority along with two Canada-based pension funds are negotiating to acquire Blackstone Group s 50% stake in separate commercial portfolios of Panchshil Realty and Salarpuria Sattva Group. The deal worth over $4.5-$5.0bn is estimated to be concluded soon.
Edelweiss: DB Realty had initially planned to develop a 125-storey luxury hotel on the plot. The plan was later modified in favour of a luxury residential project with two towers, which remained a non-starter.
Further expanding its presence in Mumbais luxury space, the Prestige Group is planning to develop two luxury residential towers on this plot overlooking the Queens necklace and the Arabian sea.