At a time when development companies are facing a liquidity crunch with fewer financing options and real estate asset prices taking a southward turn, JP Morgan finds an opportunity to be tapped.
The company plans a $1 billion investment in India and China.
However this is not the first time that JP Morgan has looked at the India market, a few of the announcements about JP Morgan's investment in India are as follows
In Oct 2007, JP Morgan set up a $2 bn fund to invest in India infrastructure projects such as roads, ports and power. The fund was to invest both at the SPV level and the hold co level.
Way back in Aug 2006 the investment bank mopped up $360 mn for investments in the Indian real estate. The fund was targeting an IRR of 20% and focussed on the development of new properties in a range of real estate diversified across the office, residential, industrial & warehouse , retail and hospitality sectors.
Investments
JP Morgan invested $68 mn in Lodha Bellissimo - an exclusive residential development coming up at Apollo Mills, located at south central Mumbai.
July 2008: JP Morgan invests $32.5 mn for a 33% stake in an SPV of realty firm Alok infrastructure
July 2008: JP morgan with Goldman Sachs and other telecom companies plan to invest $700 mn for a 22% stake in Global Holding Corporation (GHC).
Global Holding Corporation (GHC) two listed firms GTL Ltd and GTL Infrastructure and three unlisted entities.
In May 2007, JP Morgan partnered with Arihant Foundations & Housing Ltdto promote a $97.6 mn residential project near Chennai
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment