rreef-completes-first-india-investment

RREEF completes first India investment

The real estate investor spends $70 million for a stake in Golden Gate Properties which focuses on developments in southern India.

By Sameera Anand

January 22, 2008

Deutsche Bank investment unit RREEF invested $70 million in Indian real estate firm Golden Gate Properties, in its first deal since Deutsche enhanced its focus on direct real estate investing in the country in 2007.

Golden Gate has been developing real estate projects since 1997. It has completed eight residential and two commercial projects in southern Indian cities, Bangalore and Hyderabad. It is currently building 20,000 units across nine projects with a built-up area of 23 million sqf. It is also planning mixed-use developments and special economic zones.

Golden Gate will retain a geographical focus on southern India with future projects planned in Chennai, Vizag, Coimbatore and Mysore, in addition to the two cities it...

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