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WIRE Group set to invest $1 b in India |
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Written by Arumai_Nagappan
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Friday, 09 March 2007 |
The Worldwide India Real Estate Fund Group (WIRE), consisting both a fund management unit and a realty developer, and sponsored by US-based Santa Fe Partners, Global Emerging Markets and Webcor Builders (California), is expected to insert a billion dollars in setting up of marketable space in Indian market by next few years. West Bengal too is very much on the Group’s radar as the starting point.
The WIRE Group, focusing in investment grade landed property, was constituted in order to meet up the rising MNC order for Indian commercial real estate, with the primary job to generate first-rate working as well as living surroundings in India.
A specialized group has been composed to expand solutions for the US/European MNCs interested or amplifying in India. The affiliation group offers support services to the MNCs in different areas including land acquisition, design, engineering and contractor management.
Mark Fidelman of The WIRE Group said the investments would mainly be in development of commercial space and IT and pharma infrastructure.
He added that there was a plan to build up a 5-lakh sq ft IT Park in the Salt Lake area by 2009, for which a joint venture SPV would be created.
The group also has plans to build big commercial space in Bangalore and Chennai and places like Gurgaon etc, through dedicated India teams at different locations.
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