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
Infrastructure Energy

Oil Prices Rise Amid Iran-Israel Tensions Despite Record U.S. Output

Oil prices increased due to reports that Iran was preparing a retaliatory strike on Israel from Iraq, although record output from the United States tempered these gains. Brent crude futures rose by 29 cents, or 0.4%, to settle at $73.10 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 23 cents, or 0.3%, closing at $69.49. Both benchmarks had reached session highs of over $2 a barrel earlier in the day. Analyst Ole Hvalbye from SEB Research commented that any Iranian response might be restrained, similar to Israel's limited strike from the previous weekend, suggesting that such a..

Next Story
Infrastructure Urban

South and Southeast Asia to Invest Over $20 Billion in EV Development

A recent report by S&P Global Ratings projects that South and Southeast Asia will invest over $20 billion in electric vehicle (EV) development in the coming years, with India poised to attract significant EV-related investments. The report highlights India's vast market potential as a key driver for this growth. According to the report, the Tata and JSW groups are expected to invest over $30 billion in EVs and EV materials over the next decade, with approximately $10 billion allocated specifically for projects in South and Southeast Asia. The adoption of electric vehicles in India is anticip..

Next Story
Infrastructure Urban

India and Saudi Arabia Explore Collaboration in Emerging Sectors

India and Saudi Arabia are exploring partnerships in emerging fields such as fintech, new technologies, energy efficiency, clean hydrogen, textiles, and mining to strengthen trade and investment ties, an official statement revealed on Friday. The discussions took place during Commerce and Industry Minister Piyush Goyal's visit to Riyadh, where he co-chaired the second meeting of the Economy and Investment Committee under the India-Saudi Strategic Partnership Council (SPC) with Saudi Energy Minister Abdulaziz bin Salman Al-Saud on October 30. These sectors were identified as high-potential are..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000