Khaleeji raises $164m for India venture

Khaleeji Commercial Bank has collected $163.5 million of equity from investors across GCC for Danat India Investment Company.

Danat will invest in a real estate development project near New Delhi, targeted at the expanding middle class of India.

India, presently one of the foremost rising markets is predicted to be the world’s 3rd biggest economy by 2050, ahead of Japan, the UK and Germany.

In a statement Khaleeji Commercial Bank chief executive officer Ebrahim H Ebrahim said that theyt are extremely delighted with the response to Danat, which is their first foray into the Indian Sub-continent.

“With a target return on investment of 83pc over a 3-year period, Danat wants to fullfill the requirement of middle income residential properties driven by increasing urbanization, rising disposable income and trouble-free financing alternatives. It offers our investors a chance to potentially advantage from the continued growth of the Indian economy, specially the demand from its burgeoning middle class.”

One Comment

  1. Posted June 3, 2008 at 3:08 am | Permalink

    But is that good or bad.I think there are lot of Relators available in the market but all the rivals cann’t survive will co-hand.It’s a market level structure which can be up and down time by time which we cann’t say to be the particular one.

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