Amidst Continued Covid Fears – Alliance Group Prepays Rs.140 Crores of Loan to ADIA and KOTAK Realty Fund in Just 19 Months
In Mar 2020, ADIA (Abu Dhabi Investment Authority) and Kotak Realty Fund disbursed Rs.115 Crores to Alliance Galleria Residences project with a 4 year repayment period. Alliance Group through innovative sales strategies and marketing has managed to sell and generate funds to pre-pay the entire loan of Rs.115 Crores along with interest of Rs 25 Crores totalling to a total repayment of Rs.140 Crores in just 19 months instead of the 48 months period given by ADIA & Kotak Real Estate Fund.
Source: businesswireindia.com