$100 million for affordable housing projects to be raised by Brick Eagle Capital
Brick Eagle Capital Group is a private equity and land-banking firm. It advises low-cost housing developers. The group is planning to raise $100 million from offshore investors mainly to acquire 1,000 acres of land in and around Mumbai this year. It has zeroed in on the investments to be made. The plan is to house more than 70,000 families over the next 5-7 years. The group primarily invests in land parcels and partners with the developers. In case it does not invest in land, joint development (JD) agreements are signed with the developers. Krishnan informed that 500 acres have been acquired and JDs have been agreed for 300 acres.
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