UB City may be owned by equity firm in future
Private equity firms Blackstone and KKR are in talk with UB Holdings for buying the UB City.
It is being said that the office real estate of the UB City may be sold at a price of Rs 650 crore.
The higher officials of UB group are refused to comment on the development.
The UB City is a joint venture between Mallya’s UB Holdings and Prestige Developers. In the entire project there are office spaces, luxury retail and hospitality unit. UB City is a landmark in the real estate in Bangalore.
Vijay Mallya has a share of 905000 sq ft are of the 1.6 million project. The UB Tower was constructed on an area of 300000 sq ft.
More related stories:
Highest ever quoted apartment price in Bangalore
High demand for office space in Bangalore
Source: Economic Times
Blackstone, Prestige Developers, Private equity firms, Real Estate in Bangalore, Realty News, UB City, UB City on sale, UB group, UB Tower
[...] UB City may be owned by equity firm in future [...]