ADIA, Kotak IAF to invest Rs 2,001 Crores across four cities with Prestige Estates

The Abu Dhabi Investment Authority (ADIA) and India’s Kotak Alternate Investment Fund have signed a total of Rs 2000 crore deal with Prestige Group for Housing Projects. This is the first and largest residential platform deal by ADIA and will help accelerate growth across four cities.

This deal is dedicated towards the development of residential Projects across four cities in India i.e. Bengaluru, Goa, Mumbai, and the National Capital Region (NCR).

Venkat K Narayana, group CEO of the company said “Given the increasing demand and consolidation in the sector, this deal will help in accelerating growth and expansion”. Also, land for the projects in the four cities has been secured, with a gross development value (GDV) of Rs 18,000 crore across the mentioned four cities.

This long-term partnership with ADIA-Kotak is going to come up with huge opportunities in the Residential Sector. The main purpose is to increase the development of green-field residential projects, ensuring the company’s commitment to diverse growth and expansion.

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