Pursuits
KKR Invests in Mumbai Builder's Plush Condos for City's Rich
- Tenants include top executives, Bollywood celebrities
- Investment highlights PE interest in Indian real estate
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KKR & Co., the private equity firm founded by Henry Kravis and George Roberts, will invest in two Mumbai projects by a developer of luxury condominiums in a property market that’s grappling with the lowest home sales in at least five years.
KKR will invest 1.5 billion rupees ($22 million) in Sunteck Realty Ltd.’s residential projects in the Bandra Kurla Complex, one of Mumbai’s popular business districts, the two companies said in a joint statement without giving further details on the transaction. Set to open in 2016, Signia Isles and Signia Pearl have garnered high-profile tenants including top industrialists, executives and Bollywood celebrities, they said.