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TICKEr TAPE

TAUrUS INVESTMENT HOLDINGS PLANS TO rAISE
ArOUND $250 MILLION FOr A FUND TO INVEST IN
INDIA’S COMMErCIAL AND rETAIL rEAL ESTATE
Taurus Investment Holdings plans to raise around $250 million conStrUction
for a fund to invest in India’s commercial and retail real estate
market. The firm plans to focus on top cities in South India and
develop a portfolio of $1 billion over the next five years. The
proposed real estate-focussed fund will be raised in two parts
of $125 million each.
Taurus had earlier planned to raise a $500 million commercial
and retail fund but decided to shrink its size due to low velocity
of deals in the market. Taurus Investment Holdings India had
kept its fundraising plan on hold due to the pandemic and the
resultant uncertainties in the market. The new fund will also invest
in data centres of up to 25mw capacity and last-mile specialised
logistic facilities across smaller cities. The firm plans to focus on
secondary cities like Visakhapatnam, Coimbatore, Mangalore
SUNTECK rEALTY INKS PACT FOr 10-MILLION-SQ-FT and Trichy.
PrOJECT IN KALYAN NEAr MUMbAI Taurus is currently developing 5.5 million square feet of mixed-use
Real estate developer Sunteck Realty has entered into an space at Taurus Downtown Trivandrum along with the Embassy
agreement to jointly develop a prime 50-acre land parcel Group, involving total investment of `1,500 crore. Construction of
at Kalyan near Mumbai. The company plans to develop an the project has resumed after a pause of almost 18 months. The
integrated residential township on the plot that has a total project is expected to be completed by 2024.
development potential of 10 million sq ft. The entire project will To date, Taurus has purchased, developed and sold more than
be executed in phases and given the current property prices in 55 million square feet of office, industrial, retail and residential
the vicinity the developer is expected to fetch revenue of around assets globally with a total acquisition value of over $8 billion.
`9,000 crore over the next 7-8 years. Global funds have again started looking at deals in the Indian
With this joint development agreement with land owner Amar Dye real estate sector.
Chem, Sunteck Realty has established its presence in the eastern
suburbs of Mumbai Metropolitan Region (MMR) in addition to its SUNrAYS INFrASTrUCTUrE TO DEVELOP 1.4 LAKH SQ FT
existing presence in western suburbs, the developer said in a IN FArIDAbAD
regulatory filing. Sunrays Infrastructure Pvt Ltd, will develop 1.4 lakh sq ft of
This is the fourth such project acquisition by Sunteck Realty commercial space in R Plaza 79 in Sector-79,Faridabad, Haryana.
since the outbreak of Covid19 pandemic. Prior to this Kalyan The phase one of the project include 1.3 lakh sq ft of commercial
project, the company has made three project acquisitions space and revenue potential of the project is `200 crore. The
at Vasai, Vasind and Borivali, totalling 8 million sq ft. With this company had acquired the 2.7 acre land in 2011 and aims to
project’s development potential of 10 million sq ft, the company complete the project within two years. The company has tied up
has added a total 18 million sq ft to its portfolio in the last few with IQI India (Global Real Estate Advisory Firm) for feasible and
quarters. The ongoing consolidation in the real estate sector retail operations dynamic based occupancy bringing business
has accelerated due to the outbreak of Covid19 pandemic. goal achievements. R Plaza 79 will have 84 showrooms and 56
Large established and listed realty developers are gaining more showrooms would be handed over for fitout in February 2022.
market share in terms of sales and liquidity as homebuyers are There has been an increasing demand of such organised high-
relying more on developers’ execution track record and sound street retail destination
financial position to take the project to conclusion. With several
infrastructure initiatives aimed at improving connectivity, many HOUSr LAUNCHES 2 NEW PrOPErTIES, AIMS AT 12
established realty developers have been venturing into the MOrE bY DECEMbEr
peripheral areas of Mumbai region. With the addition of these two boutique properties to its portfolio,
Over the last few quarters, peripheral locations of big cities Housr has 20 properties across nCR, Pune and Hyderabad and is
have been witnessing better momentum in terms of residential aiming to launch more properties in the next 6-9 months across
demand and sales too as homebuyers are increasingly looking the country. The rentals range from `12,000 to `18,000 for twin
for bigger homes in gated projects with large layouts in the sharing and `22,000 to `35,000 for single occupancy. These
backdrop of Covid19 pandemic. Top real estate developers additions will offer 1,500+ beds in multiple formats across studios
are expected to double their sales over the next 3-4 years and BHK’s ranging from 75 to 500+ beds in each property. Housr
driven by robust demand, increasing affordability and industry has already taken steps to enhance our operational strength,
consolidation, CLSA said in a recent report on India’s property technical capabilities and service delivery in a post Covid-19
industry. With renewed business confidence, realty developers landscape. The company aims to expand its presence in the
are also seeking to ramp up new project acquisitions. South India market in Bangalore and Chennai.

OCTObEr 2021|COnSTRuCTIOn OPPORTunITIES 33