Red Fort Capital to invest $100 million in Chennai, enters Chennai market by acquiring residential land for its first project in the city
Red Fort Capital, one of India's leading international private equity real estate firms, will be investing $100 million in Chennai over a period of six months. The investment will be across low to high end residential and hospitality projects. Red Fort Capital has kicked off its activities in Chennai by acquiring residential land in close proximity to Ambattur, an emerging IT hub.Tweet
-- Speaking at the announcement of this strategic decision, Parry Singh, Director, Red Fort Capital Advisors said, “We are extremely excited to announce our foray into the Chennai market. We have already acquired residential land near Ambattur and are looking to invest $ 100 million over a period of six months for housing projects in Chennai. We are already talking to developers and look forward to broadening our investment program here. “
Talking about the future of real estate in markets such as Chennai Mr. G.B Singh, Director, Red Fort Capital Advisors said, “We see a tremendous potential in the real estate sector in Chennai. The quality of infrastructure is continuously improving. Chennai has emerged as an IT hub with a host of software MNCs entering the city. Firms like Red Fort Capital are facilitating this growth by investing in the real estate sector in Chennai.”
Ambattur is an industrial area north-west of Chennai. Though considered a part of Chennai, Ambattur technically belongs to the Thiruvallur district. Closer to Anna Nagar, Ambattur is a fast developing residential localé of Chennai.
Notes to Editor
About Red Fort Capital
Red Fort Capital is an international private equity firm with a focus on real estate investments in India. Their investors include international governments, pension plans, insurance companies, foundations, and endowments. In 2007, they have already committed over $225 million to residential, township, and office projects in India,
partnering with leading developers in India like Bangalore-based Prestige Group. The fund invests in developers and real estate projects, as well as
acquires land for the purposes of development in the residential, office, hospitality and infrastructure sectors. Their investments take the form of joint ventures, equity, or mezzanine capital.
Red Fort Capital is a unique investment management firm with professionals that have over thirty years of Indian Real Estate experience combining International real estate development, finance and capital market expertise. Their extensive experience encompasses all major property types– office, residential, townships, industrial, retail, hospitality and infrastructure.
Mr. G.B. Singh, Director, Red Fort Capital Advisors, has over 30 years of experience in the Real Estate Industry in India having developed over 55 million square feet of space in his career including marquee projects like the Bahai temple in New Delhi. His prior experience includes CEO and President of Construction Division, DLF Universal where he oversaw the construction and development of DLF’s Residential & Commercial projects.