Introduction
Shapoorji Pallonji Group (SP Group) has bought its stake in a commercial real estate project in Hyderabad for Rs. 2,200 crores, sources said on Wednesday. The Xander Group has partnered with Singapore-based GIC to buy a stake in TSI Business Parks (Hyderabad) Pvt Ltd, which owns a property called Waverock, sources said.
SPREF II, an investment platform co-owned by the Shapoorji Pallonji Group and German insurer Allianz. Than had acquired a controlling stake in TSI Business Parks in December 2019. TSI Business Parks owns Waverock, an IT special economic zone located in Gachibowli, Hyderabad, with a gross leasable area of approximately 2.4 million square feet.
Inherent Attraction of Indian Real Estate Market
“This transaction underscores the inherent attractiveness of the Indian real estate market,” said Rajesh Aggarwal, CEO of Shapoorji Pallonji Investment Advisors. He also mentioned that the increasing demand for commercial and residential properties in India is driving investments from both domestic and international investors.
Establishing a strong presence in key markets across the country. By tapping into this new market. We aim to strengthen our position as a leading real estate provider and drive further growth for our company. Our focus remains on delivering exceptional value and service to our tenants while maximizing returns for our stakeholders.
Even in Singapore, XIM has been investing in India for the past two decades. Their strong presence in the Indian market has allowed them to establish valuable partnerships and gain a deep understanding of the local business landscape. This has positioned XIM as a trusted and reliable player in India’s growing economy.
It Special Economic Zone Located in Gachibowli
“Waverock is a valuable addition to our office portfolio in India. It enables us to offer premium space to existing and new tenants in another Indian city,” said Arpit Singh, Managing Partner, Xander Investments. The expanding our reach and diversifying our portfolio. This strategic move aligns with our goal of increasing revenue.
The exact amount of money flowing to the Shapoorji Pallonji Group remains unclear as the specifics of its stake in SPREF II were not disclosed. However, it is estimated that the group stands to gain a significant return on investment from its involvement in the project. This lack of transparency could potentially impact future business decisions and partnerships involving the Shapoorji Pallonji Group.
Conclusion
Shapoorji Pallonji Group (SP Group) has bought its stake in a commercial real estate project in Hyderabad for Rs. 2,200 crores sold. Because many sources say that the reason is that the SP group is in debt. Is this true? It should be clear whether or not. For more information, visit openplot.
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