Milestone, recognized as India’s largest independent Real Estate Fund house, has officially unveiled the Milestone Ecofirst Advisory Services (MEAS) in collaboration with Ecofirst in a 50:50 Joint Venture. Ecofirst is a J. Leon Group company based in the UK, launched with a substantial multimillion-pound budget.
Through the debut of Milestone Ecofirst Advisory Services (MEAS), this initiative marks a significant milestone as, for the first time in India, a real estate fund house will provide specialized consultancy services tailored for eco-friendly development to its invested companies and projects.
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- Arya, the Managing Director of Milestone Capital Advisors, stated, "We want to ensure that most of the development—approximately five million square feet—being funded by Milestone nationwide will be eco-friendly, adhering to global norms in sustainable development."
He further expressed, "MEAS will not just extend its services to developers situated in metropolitan areas. This is the first time India will see the availability of world-class green building consultancy for developers in Tier II and Tier III cities."
Milestone has actively invested in over twenty-five projects across Tier II and Tier III cities, including various types of residential, commercial, mixed-use projects, and townships.
Initially, MEAS will focus on providing consultancy services for projects that are funded by Milestone, with plans to branch out and extend these services to third-party developers as well.
India has quickly risen to become a highly sought-after location for green buildings, ranking fourth globally, following the US, Australia, and Canada, in terms of area encompassed by green construction. According to the CII-Indian Green Building Council (IGBC), a total of one hundred forty-seven million square feet of green space has been registered in India across two hundred thirty-nine projects. The IGBC aims for a target of one billion square feet of green footprint by 2012.
To date, Milestone has successfully raised over Rs. 2,400 crores from the domestic market, boasting the highest deployment ratio within the sector, with investment agreements amounting to Rs. 1,800 crores signed thus far.
Currently, Milestone is actively working on raising an additional Rs. 500 crores for its domestic fund called “Milestone Domestic Scheme II.”