Here is a new entrant into the Indian real estate sector. Global real estate fund Millennium Spire said it would invest $1 billion across the country. Ashish Balla, a portfolio manager of the fund, said they plan to accelerate investments in south India with Coimbatore as a key focus geography, reports PTI (Via Mint).
He said the company was not investing in land, but would fund infrastructure development projects on partnership basis. With regard to Coimbatore, Balla said that one-fourth of the investment fund would be earmarked for the district for projects like an inner city mixed used project of landmark value and knowledge based industrial township.
“The Fund has a target internal rate of return in excess of 25 per cent over its 5 year lifespan,” reads the company’s website. The website further adds that Millennium Spire has a secondary focus on opportunistic commercial and retail development. Ashish Balla and Abhijeet Balla look after the company’s operations in India. Abhijeet has 17 years of operational experience, primarily in the areas of building turnkey businesses in new markets, process re-engineering and sales and distribution management. Ashish is an urban planner and development professional who has worked in the United States, Italy, SE Asia and India.
He said the company was not investing in land, but would fund infrastructure development projects on partnership basis. With regard to Coimbatore, Balla said that one-fourth of the investment fund would be earmarked for the district for projects like an inner city mixed used project of landmark value and knowledge based industrial township.
“The Fund has a target internal rate of return in excess of 25 per cent over its 5 year lifespan,” reads the company’s website. The website further adds that Millennium Spire has a secondary focus on opportunistic commercial and retail development. Ashish Balla and Abhijeet Balla look after the company’s operations in India. Abhijeet has 17 years of operational experience, primarily in the areas of building turnkey businesses in new markets, process re-engineering and sales and distribution management. Ashish is an urban planner and development professional who has worked in the United States, Italy, SE Asia and India.
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