Bangalore based real estate developer, Golden Gate Properties, is believed to be close to a sale of a 20%-30% stake in the company. Leading financial institutions like ABN Amro, Credit Suisse and Deutsche Bank are reported to be in the race for picking up this stake for an estimated $100 million, according to an article in the Economic Times.

The proposed investment in Golden Gate values the company at around $350-500 million according to ET.

Golden Gate Properties Ltd is a Bangalore based Public Limited Company that started its operations in 1997. In a short period of time it has emerged as one of the leading developers in South India. The Company has 7 ongoing projects worth Rs.1500 crore and is poised to launch 10 different Projects, at strategic locations of Bangalore, Chennai and Hyderabad. These projects will have total inventory of 10,000 units. In the current financial year. Two SEZ s with proposed built-up area of 6 million sft are also planned.

FDI deals ion Indian real estate doe this year include Morgan Stanley's Rs 675 crore investment in Oberoi Constructions, CapitaLand's JV with the Runwal Group for projects worth $100 million, and TPG-Axon Capital's Rs 300-400 crore investment for 15%-20% of Bangalore based DivyaSree Developers. Other FDI deals include Siachen Capital's investment in Nitesh Estates with $30 million upfront and another $70 million committed to in the second phase, and Morgan Stanley's $68 million investment in Mantri Developers.
Source:INR News The No.1 Indian Real Estate News Website

Available Luxury 2-3 Bedroom Apartments in Prime Location of HSR Layout, Click Here