Motilal Oswal Real Estate Fund invests in properties

 India Realty Excellence Fund II (IREF II) managed by Motilal Oswal Real Estate Investment Advisors Private Ltd.  has invested Rs 67 crore with Shriram Properties. The investment is at SPV level for the development of a mid-income residential project located off Old Madras Road in Bangalore. The project is spread across 19.5 acres with total development potential of about 2 million sq. feet.
Sharad Mittal, Director and Head, Motilal Oswal Real Estate, said, “We are positive on Bangalore residential real estate market, particularly mid-income housing segment, due to the sustained absorption level backed by affordable prices and expansion of IT/ITeS sector.”
Speaking on the occasion, M. Murali, Managing Director, Shriram Properties Pvt. Ltd. said, “We value the investment from Motilal Oswal Real Estate Fund which has enabled us to unlock the land bank potential and will not only strengthen us financially but also provide us a spring-board to launch into the next cycle of our growth .”

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