Mumbai: HDFC Capital has mobilized $ 1.9 billion for investment in the real estate sector through the closure of the third fund that focuses on affordable housing – the largest in the segment globally.
Affordable HDFC Capital Real Estate Fund – 3 (H-Care-3) on Sunday announced the first appearance with investors, (Most of the Abu Dhabi investment authority) which committed more than $ 1.2 billion.
Given that this is a long-term fund with the potential reinvestment, the corpus funds available for investment are expected to be in the area of $ 1.9 billion.
“We have collected $ 1.1 billion so far for affordable housing and has facilitated the construction of 1.8 lakh units.
Given that housing shortages are estimated to be more than 25 million very large potential and there are many interests between global investors in affordable housing segments In India, “said Deepak Parekh, HDFC.
The target of HDFC Capital is to finance the development of 1 million affordable homes in India.
“This is one of the largest (globally) funds raised to provide risk capital for affordable housing projects and medium-income housing.
The aim is to make a platform to finance and support the entire ecosystem of the supply value of project development including developers, global investors, technology companies in housing and construction, “Vipul Roongta, MD & CEO said, the HDFC capital advisor.
H-CARE 3 will provide flexible long-term funds throughout the life cycle of affordable housing projects and middle income.
HDFC Cap raises $ 1.9 billion for affordable housing
