Bahraini Firm Invests $69 Million in Noida IT Park
A Bahraini real estate company, Acacia Real Estate, has made a significant investment in India's burgeoning real estate sector. The firm, backed by Bahrain-based TAIB Bank, acquired a 49% stake in Logix TechnoPark, an information technology park situated in Noida, Uttar Pradesh. The deal, valued at $69 million, underscores the growing attractiveness of Indian commercial real estate to international investors.
Investment Details and Projected Returns
Acacia Real Estate's acquisition of the substantial stake in Logix TechnoPark represents the organization's confidence in the Indian market. Mr. Iqbal Mamdani, a member of Acacia's executive committee board and chief executive of TAIB Bank, expressed pride in offering clients this unique investment opportunity in India’s dynamic real estate market.
He further elaborated on the deal's structuring, highlighting its potential for robust returns. It is projected to yield an internal rate of return (IRR) exceeding 24% per annum. Designed with investor interests in mind, it offers downside protection with an average cash coupon of 8% annually over a three-year holding period.
"We are proud to be able to offer our clients this unique opportunity to invest in India’s real estate market".