Asian infra investor Equis Funds Group has invested Rs 720 crore, or $116 million, in property developer Assetz, which plans to build a string of mid-income housing townships in the country over the next five years.
Bengaluru-based Assetz plans to develop mid-income housing of around 20 million sqft and the funds will be deployed for building captive infrastructure for these large township projects. The investment by Singapore-based Equis, which manages assets worth over $2.7 billion in infrastructure and real estate sectors, is among the biggest private equity deals to chase the India's housing market in recent years.
Assetz Group CEO Ben Salmon said the mid-income housing venture would kick off plans with three projects, catering to households with annual incomes of Rs 5-15 lakh in Bengaluru. The city has one of the highest urban housing absorption rates in the country, with approximately 42,000 units getting absorbed in 2014.
India's residential developers are likely to shift focus on to middle class housing as the world's fastest growing economy also carries with it one of the fastest urbanizing population. The Narendra Modi-led NDA plans to boost the supply of affordable urban dwellings, which is running short of 19 million units currently . PM Modi's much-talked about election promises include housing for all by 2022.
“Our strategic alliance with Assetz will enable us to address some of the challenges of providing infrastructure for accommodating middle class housing for the urbanizing population in the fast growing and rapidly transforming Indian environment,“ said Equis Funds Group CEO David Russell.
First of all I would like to thank you and the Gera team for organizing different workshops at our doorstep.
The best thing I have done to my kids is that I took a right decision to buy a flat in Gera.
Because of this decision , Vishnu could attend the development workshops that were conducted.
Vishnu was a shy child who didn't like to participate in any of the programmes.
As far as Dale Carnegie workshops is concerned it has given him a lot of confidence and was presenting things in a much better way and I can see a lot of improvement in him.In simple words u made a person(..
My son Tattva had been enrolled in the intermediate level and has been coached by the Vishwanathan Anand Chess Academy coach . Tattva has made remarkable strides and will be on his way to get his FIDE rating in November. A lot of credit goes to the mentor for his unique way of handling his students. He has been very patient while working with Tattva on his areas of improvement. In addition before the tournament the coach had voluntarily added additional classes and doubled his efforts to get a better performance out of Tattva. He has shown complete ownership which is commendable. I hope he continues to develop more and more chess players in the coming days...
It's a wonderful experience with the tennis academy and my daughter liked it. Also she is getting good training and love for the game.
The coaches are good and we would continue using their expertise for Nishita going onwards. We are also looking forward for signing (actually instrument) and dancing coaching too.
This is to share with you that both my little girls (Aditi Anisha) are really enjoying their Tennis classes at the Mahesh Bhupathi Tennis Academy.
I always find them very excited whenever there is TENNIS CLASS, and this excitement matters to both of us, as the kids seems to be interested.
It’s nice to see them constructively engaged, and coming home happy and having felt productive in their own child little way. It’s a great way for them to bond with other young ones and feel belonged to a larger community.
Thanks to You, Gera Developments and MBTA for giving our young ones, an opportunity for a wonderful learning experience.
Now they are looking forwar..
Regarding the workshops & different academy sessions, it has been wonderful experience so far for Shlok and we’re looking forward for the new opportunities.
It’s absolutely fantastic to have all these academies in the premises, and that too from the renowned personalities, so we can send kids without worrying about other factors like safety & all.
And most importantly, a big thanks to you for the lovely follow-ups & timely updates about the upcoming/ongoing sessions.