REO to pump in US $ billion committed capital in its Real Estate Projects

July 11, 2009
IREO, the first and the largest global investment fund dedicated to the Indian real estate sector, today announced its foray into real estate development with a portfolio of 13 projects located in prime locations around the country.
Speaking to the media on this occasion, Mr. Anurag Bhargava, Chairman, said “Our vision is to be the most respected real estate and infrastructure developer in India by consistently delivering superior value to our customers, investors, business associates and employees in all our endeavors”.
Mr. Bhargava further added that “as a global investment fund, IREO has been present in India since 2003 and has steadily built a portfolio of high quality executable projects in prime locations across 3,000 acres of owned land with a national footprint. IREO has now evolved as a fully integrated real estate organization that is both the financier and the developer of its projects”.
IREO’s Vice Chairman and Managing Director Mr. Lalit Goyal, added “We are in strong financial condition and have cash to invest. Having already invested US$1.5 billion, we still have another US$500 million available in cash for further investments in our projects”.
Mr. Goyal further stated that “our team consists of internationally experienced and accomplished expatriate and Indian professionals from various backgrounds to lead our initiatives and to deliver best in class products and services to our customers”.
“We have already commenced construction and leasing of a 5 million square feet IT SEZ and the sale and construction on 3 million square feet of housing. We are poised to launch a number of projects that will entail development of more than 8 million square feet of housing in the coming 12 months”.
Mr. Steven Wisch, Partner, informed the media that “IREO’s investor base consists of blue chip globally renowned and respected financial institutions such as: JPMorgan Chase, TPG – Axon, Citadel Investment Group, sovereign wealth funds, endowments such as Stanford University, University of Notre Dame and University of Rochester, major global real estate developers like Stephen Ross, the Taubman Family and the Reichmann Family and some very high net worth individuals. The blue chip nature of our investor base is proof of the immense faith our investors have in India and also their confidence in IREO’s capabilities to manage the funds and projects at such large levels”.
Commenting on IREO’s philosophy, Mr. Madhukar Tulsi, President, said “Currently we have 13 projects under various stages of development and implementation in NCR, Haryana, Punjab, Tamil Nadu and Maharashtra. We are committed to delivering superior product quality, investment value and a level of satisfaction never before experienced by real estate buyers in India”.
Ref:http://www.indianrealtynews.com/real-estate-india/ireo-to-pump-in-us-billion-committed-capital-in-its-real-estate-projects.html