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  • 23-12-17

    Abu Dhabi: ADIA declared as $1bn Indian housing fund's primary investor

    (MENAFN) In a latest affordable residential fund set in India, supreme wealth fund of Abu Dhabi has been declared to be the main investor.

    State news agency WAM reported that HDFC Capital Advisors of India has received back up from Abu Dhabi Investment Authority (ADIA) aiming to accomplish the initial close of the HDFC Capital Affordable Real Estate Fund - 2.

    Building up a $1 billion platform aiming for affordable and mid-income housing projects in fifteen cities, the second fund is to be combined with last year's HDFC Capital Affordable Real Estate Fund - 1.

    ADIA's Real Estate and Infrastructure Department executive director Khadem Al Remeithi stated "India's housing market presents a compelling investment opportunity driven by the country's continued economic growth and backed by supportive government initiatives. Our investment in HDFC's platform aims to meet the strong demand for early-stage financing of housing projects and encourage the continued growth of the affordable and mid-income residential sector."

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