HDFC Capital garners $376 million for affordable projects
Real Estate

HDFC Capital garners $376 million for affordable projects

According to HDFC Capital, HDFC Ltd.'s real estate private equity arm, the initial closure for Scheme 2 of the HDFC Capital Affordable Real Estate Fund – 3 (H-CARE 3) has been completed successfully, raising $376 million.

The statement issued by HDFC Capital says the investor and sponsor have committed $376 million to H-CARE 3 Scheme 2. A $3.1 billion funding platform that has been rated as "one of the world's largest private finance platforms focused on development of affordable housing" is created when H-CARE 3 Scheme 2 is combined with H-CARE 3 Scheme 1 (raised less than a year ago) and HDFC Capital Affordable Real Estate Funds – 1 and 2, which were raised in 2016 and 2017 respectively, HDFC stated in a statement.

A fully owned Abu Dhabi Investment Authority (ADIA) subsidiary is the primary investor in H-CARE 3 Schemes 1 and 2. H-CARE 3 will provide affordable and middle-class housing projects, including early-stage funding, with flexible, long-term funding throughout the project's lifecycle. H-CARE 3 will also make investments in technology businesses (such as construction technology, fintech, sustainability technology, and so on). involved in the ecosystem of affordable housing.

H-CARE 3 Schemes 1 and 2 will be sponsored by HDFC Ltd., with HDFC Capital serving as the investment manager.

Deepak Parekh, Chairman, HDFC stated "I continue to be optimistic about the demand for homes in India, despite the recent headwinds in the global macro landscape. India is envisaged to remain among the fastest growing major economies in India, and housing will play an even more important role as a catalyst for growth as the pivot of global growth shifts."

In India, HDFC Capital was one of the first to invest in affordable and middle-class housing projects. The HDFC Capital platform is well on its way to funding one million affordable homes in India in the medium term thanks to partnerships with reputable developers and the support of leading global investors like ADIA, he added.

According to HDFC Capital, HDFC Ltd.'s real estate private equity arm, the initial closure for Scheme 2 of the HDFC Capital Affordable Real Estate Fund – 3 (H-CARE 3) has been completed successfully, raising $376 million. The statement issued by HDFC Capital says the investor and sponsor have committed $376 million to H-CARE 3 Scheme 2. A $3.1 billion funding platform that has been rated as one of the world's largest private finance platforms focused on development of affordable housing is created when H-CARE 3 Scheme 2 is combined with H-CARE 3 Scheme 1 (raised less than a year ago) and HDFC Capital Affordable Real Estate Funds – 1 and 2, which were raised in 2016 and 2017 respectively, HDFC stated in a statement. A fully owned Abu Dhabi Investment Authority (ADIA) subsidiary is the primary investor in H-CARE 3 Schemes 1 and 2. H-CARE 3 will provide affordable and middle-class housing projects, including early-stage funding, with flexible, long-term funding throughout the project's lifecycle. H-CARE 3 will also make investments in technology businesses (such as construction technology, fintech, sustainability technology, and so on). involved in the ecosystem of affordable housing. H-CARE 3 Schemes 1 and 2 will be sponsored by HDFC Ltd., with HDFC Capital serving as the investment manager. Deepak Parekh, Chairman, HDFC stated I continue to be optimistic about the demand for homes in India, despite the recent headwinds in the global macro landscape. India is envisaged to remain among the fastest growing major economies in India, and housing will play an even more important role as a catalyst for growth as the pivot of global growth shifts. In India, HDFC Capital was one of the first to invest in affordable and middle-class housing projects. The HDFC Capital platform is well on its way to funding one million affordable homes in India in the medium term thanks to partnerships with reputable developers and the support of leading global investors like ADIA, he added.

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?