fourth-indian-property-fund-aims-for-london

Fourth Indian property fund AIMs for London

Dev Property seeks $624 million for investments into Indiabulls-led development projects.

By Anette Jönsson

January 23, 2007

For the fourth time in just two months, an Indian developer is on the road with a fund that will allow investors to participate in certain development projects it is undertaking. The concept has proved popular with investors during the subscription stage but, since listing, two of the three funds have seen their share prices decline.

This time it is Indiabulls Real Estate that is looking for investors for the Dev Property Development fund, which will invest in commercial and residential developments in major Indian cities and in Special Economic Zones SEZ that are suitable for foreign direct investments. The fund is seeking to raise up to ú316 million $624 million including the greenshoe and,...

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