Property developer Phoenix Mills on Friday announced that Germany-based investor MPC Synergy will invest €200 million (about Rs 1,288 crore) in the special purpose vehicle floated by the company and its subsidiaries, Entertainment World Developers (EWDPL) and Big Apple.
This is the second largest foreign direct investment in the country’s real estate sector, after Deustche Bank invested $425 million in an SPV floated by Mumbai-based Lodha Group.
