Aiming to tap the USD 100 billion affordable housing market, global private equity firm Brick Eagle plans to buy into realty firms having interests in Karnataka, Kerala and Rajasthan to fuel its expansion in the country.
The Hong Kong-headquartered firm has already acquired stakes in five developers, including DBS, Playtor, Olympeo, Sheltrex and Xrbia, which have a presence in states like Maharashtra, Gujarat and Tamil Nadu.
"We are working towards our vision of delivering a million housing units by 2030 and to achieve the target, we plan to tie up with developers engaged in developing affordable housing," its chief executive Rajesh Krishnan told PTI here.
"We plan to expand our presence in states like Karnataka, Kerala and Rajasthan which are emerging as potential affordable housing markets," he added.
The company plans to raise USD 100 million to fund these investments and also to acquire land parcels for developing affordable homes.
The company plans to acquire close to 1,000 acres of land parcels every year. "These land parcels will be developed to house over 70,000 families in the next 5-7 years," he said.
Beyond projects, Brick Eagle has invested in companies that aid the affordable housing sector like TPC, a construction technology company; Phalcomm, an online house selling platform; Renderlogy, a technology driven online interior design and supplier community; Xeco, a real estate marketing company; Botsworth, a company using robotics for township management.
At present, Brick Eagle manages over 30 million sq ft of affordable housing projects, which are in various stages of development.
