$100 million worth investment for mid-income and co-living group
Funds to be raised around $500 million by a Boston based real estate investment advisor Taurus Investment Holdings for both commercial and retail. They will invest mainly in tier -I and II cities mainly in Southern part of India, except in Hyderabad
The firm is coming up with residential platform which will be targeted towards mid-income and co-living segments which is worth $100 million.
In 2017, Embassy group, real estate group entered into a joint venture held by Taurus which was around 2 million sq ft of office space in Kerala. In the first phase of the development was around 1.2 to 1.4 million sq ft of office space, where 49% of the stake was held by Embassy group and 51% was with Taurus Investment holdings.
India will be the core market for Taurus in upcoming years
Ajay Prasad, MD at Taurus Investment Holding India, said, “India will be the core market for Taurus in forthcoming years, and they see India contributing one-third of their global portfolio over the next five years.” “About 30% of the raised money will be used for retail development while 70% will be invested in commercial sector in tier-II and III cities.”
The company is currently on its way to increase its commercial funding which will be helpful in investing at the project and portfolio level in the rapidly increasing office, commercial, retail market in India. He further said that, “they have spoken to Embassy Group to mutually have a commercial platform of 5-10 mn sq ft over the next five years.” “As of now, the company has invested over Rs 400 crore in the real estate market and the total investment for mixed use development is around Rs 2000 crores.”
Rise in investment in real estate sector in first half of 2019
According to latest reports, Investments rose around 66% to $ 3.8 billion in the India’s real estate sector in the first half of 2019. The sector contributed 10 large deals worth $9.9 billion.
