Prestige Group enter into deal with Abu Dhabi Investment Authority and Kotak's fund to raise Rs 2,000 crore
Real estate developer Prestige Group has signed a deal with the Abu Dhabi Investment Authority (ADIA) and Kotak Alternative Investment Fund (KAIF). Through the deal, the group has raised a total of Rs 2000 crore. The raised capital, a quasi-debt instrument, will be utilized to capitalize on growth opportunities in the residential sector by developing projects with a gross development value (GDV) of Rs 18,000 crore.
The deal marks the first and largest residential platform deal by ADIA and will aid in expanding the group’s residential portfolio.
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