Abu Dhabi Investment Authority to invest $250 million in Hines India Real Estate - The Economic Times

Abu Dhabi Investment Authority to invest $250 million in Hines India Real Estate - The Economic Times:

"Abu Dhabi Investment Authority is investing $250 million ( Rs 1,500 crore) in Hines India Real Estate, the Indian arm of American property development and management firm Hines, amid a rise in overseas interest in the sector.

"The sovereign wealth fund has formed a strategic alliance with Hines to invest across the residential segment in metros across India. This is the first direct real estate venture with a developer in India for the fund," said one of the people with direct knowledge of the investment. It's not known how much equity it will have in the venture.

Abu Dhabi Investment Authority declined to comment. "ADIA has a policy of not commenting on market rumours about specific investments etc," spokesperson Erik Portanger said in response to questions emailed by ET."

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