Real estate advisor Cushman & Wakefield facilitated the deal.”Faridabad is entering a new phase of organized urban growth, supported by infrastructure and rising end-user demand. Closing financial arrangements within weeks of launch reinforces the strength of the project fundamentals and our disciplined approach to capital deployment,” said Uddhav Poddar, CMD, Bhumika Group.
The Indian real estate sector has witnessed unprecedented growth in recent years with record investment from both domestic and foreign investors, says A Balasubramanian, Managing Director and CEO of Aditya Birla Sun Life AMC Ltd.
“The demand for integrated, mixed-use environments in Faridabad/NCR has never been higher. We believe that the modern consumer is looking for more than just a property and this seamless live, work and play ecosystem offers just that. Our investment in this project is driven by conviction, and we are proud to back a development that addresses this market gap,” said Akshat Pandya, Head of Real Estate, Aditya Birla Sun Life AMC Ltd.
Aditya Birla Sun Life AMC Ltd and BGO had announced their partnership in June 2022 to form a structured credit investment vehicle that provides strategic financing solutions. The platform has successfully committed $130 million to invest in thirteen projects across six cities, with a focus on real estate projects post-approval with established partners.
With the robust deal pipeline under negotiation, the platform aims to achieve $1 billion in deployed capital under this strategy by 2028, the statement said.
Bhumika Realty, part of the Bhumika Group, has developed retail real estate projects in Delhi-NCR and Rajasthan.
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