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Indian developer Prestige Group inks $240mn investment deal with ADIA, Kotak AIF

The deal is to develop residential projects in “prominent locations” across the Indian cities of Bengaluru, Mumbai, Goa, and the Delhi-NCR

By Staff Writer
There is a growing interest in potential partnerships between Indian and Dubai/UAE-based real estate companies, particularly in the luxury and mixed-use segments. Image: Shutterstock

Indian real estate developer Prestige Estates Projects reportedly signed a $240 million (Rs 20.01 billion) deal with the Abu Dhabi Investment Authority (ADIA) and Kotak Alternate Investment Fund to develop residential projects in the South Asian country.

The deal is to develop residential projects in “prominent locations” across the Indian cities of Bengaluru, Mumbai, Goa, and the Delhi-NCR (National Capital Region), Prestige said in a stock exchange filing on Monday, Reuters reported.

The proposed projects are estimated to have a combined gross development value of $2.16 billion (over Rs.180 billion).

The fresh raised capital, a quasi-debt instrument, will be utilised to capitalize on growth opportunities in India’s fast growing residential sector, the company said.

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Nicole Abigael

Nicole Abigael is a Reporter at Arabian Business and the host of the AB Majlis podcast. She covers a diverse range of topics including luxury real estate, high-net-worth individuals, technology, and lifestyle...

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  • Nicole Abigael is a Reporter at Arabian Business and the host of the AB Majlis podcast. She covers a diverse range of topics including luxury real estate, high-net-worth individuals, technology, and lifestyle trends across the Middle East. Nicole...

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