Experion invests Rs 200 crore in Vatika housing project

Experion invests Rs 200 crore in Vatika housing project

Experion Capital, Singapore-based AT Capital’s real estate- and infrastructure-focused non-banking financial company, has made its debut investment in India by providing Rs 200 crore as project finance for Vatika Group’s luxury residential project in Gurgaon, three people aware of the development said.

The investment includes a term loan that aids in partial refinance and the remaining amount will be directed towards construction of the luxury residential project, the sources told ET.

The project, ‘Sovereign Park’, situated on a 10.5-acre land parcel along the Dwarka Expressway, is anticipated to encompass 1 million sq ft of residential area. It will be developed in two phases, the first of which has started.

Property consultant CBRE was the transaction advisor for the deal.

Vatika Group and CBRE did not respond to emailed queries.

“Experion Capital is working towards driving projects to completion, in turn creating value for customers, developers and for itself. We look forward to doing more such transactions and build long term value in this sector,” said a spokesperson from Experion Capital.

Experion, a 100% foreign direct investment (FDI)-funded real estate developer backed by Singapore’s Experion Holdings Pte. Ltd., has a subsidiary that acquires land and undertakes residential and commercial projects.

Recently, they acquired three land parcels in the national capital region (NCR) for Rs 1,100 crore to develop residential and commercial properties.

While the Indian arm of Experion Holdings Pte. Ltd. has primarily focused on Gurgaon and Lucknow, it has now expanded its portfolio by funding projects of other developers as well.

Source : ET

Related Posts

Real Estate in India: According to the Annual Luxury Outlook Survey 2023 by Sotheby’s International...
Haryana’s Gurugram is witnessing a significant surge in rental prices and property values. This is...
Realty developer Signature Global has acquired 14.65 acre land in Sector 37D of Dwarka Expressway,...