Omkar Realtors & Developers Pvt. Ltd. (ORDPL) today announced the closure of a 200 crore funding by INDIAREIT Fund for its premium mixed use development project in Worli, having a development potential of over 1 million sq.feet. INDIAREIT has seen great value in Omkar’s capabilities and the proven track record has been instrumental in the closure of the funding.
Omkar’s resilience and efficiency has not only enabled the successful launch of about 4 projects in Mumbai in the past 6 months, but has also garnered an overwhelming consumer and investor response despite the current market sentiment.
Ecstatic about the association, Mr. Babulal Varma, MD, Omkar Realtors and Developers said, “We are happy to be associated with a reputed private equity fund like INDIAREIT. Omkar believes in crafting better lifestyles as well as providing asset value appreciation for our customers and investors. This association will only provide an impetus to our growth story”.
The uber luxurious mixed -use development project by Omkar Realtors & Developers Pvt. Ltd. is slated to redefine the essence of premium luxury projects in the island city. The project is being designed by the internationally acclaimed team of Foster + Partners.
Commenting on the development Mr. Ramesh Jogani - CEO & MD of INDIAREIT Fund Advisors said, “We are excited at the opportunity to forge a partnership with Omkar for this project. The core values that govern the overall functioning of an organization forms a key ingredient for any financial transaction between entities. This investment is a validation of our belief in Omkar and their capability to do justice to this association. The investment at an SPV level is in concurrence with our strategy that enables sustained capital gains over a period of time”.
