Khaleeji Commercial Bank's Danat India Investment Company Secures $163.5 Million in Equity
Khaleeji Commercial Bank has successfully collected $163.5 million in equity from investors across the Gulf Cooperation Council (GCC) for its subsidiary, Danat India Investment Company.
Investment Focus: Indian Real Estate Development
Danat India Investment Company is set to invest in a strategically located real estate development project near New Delhi, India. This project is specifically targeted at catering to the growing needs of India's expanding middle class.
India's Economic Growth Prospects
India is currently positioned as one of the world's most promising emerging markets, predicted to become the third-largest economy globally by 2050, surpassing Japan, the UK, and Germany.
CEO Statement
Ebrahim H Ebrahim, Chief Executive Officer of Khaleeji Commercial Bank, expressed his delight with the overwhelming response to Danat, marking the bank's inaugural venture into the Indian Sub-continent:
*"We are extremely delighted with the response to Danat, which is our first foray into the Indian Sub-continent. With a target return on investment of 83% over a 3-year period, Danat aims to fulfill the demand for middle-income residential properties driven by increasing urbanization, rising disposable income, and accessible financing options. This offers our investors a unique opportunity to potentially benefit from the sustained growth of the Indian economy, particularly the demand from its burgeoning middle class."