India Real Estate Monitor

Ian Hendersen, Chairman, Ishaan Real Estate, said, “Investment in the initial portfolio of assets is being completed, largely according to a plan, and the increased net asset value replicates the strong demand for our properties and the huge potential of the Indian property market”. IRE is the holding company of K Raheja Corp floated in order to generate money from overseas markets. IRE leverages the multi-decade experience of the K Raheja Corp. in the Indian real estate sector.
IRE, a real estate fund listed on LSE’s Alternative Investment Market, invested two hundred fifty one million dollars in K Raheja Corp.’s various projects placed in western and southern India. IRE holds forty percent stake in each of Raheja’s eight projects comprising shopping malls, IT parks, and residential projects. The Raheja Group at present has development plans for their residential, IT park projects and SEZs. Apart from that, the company has major expansion plans for Globus stores, one of their retail ventures. They will be spreading to all parts of the country, and have one hundred fifty-two stores by the year 2012, which will need an investment of nearly two hundred million dollars.