SatyaVani Projects Seeks $150 Million Investment for Expansion
Hyderabad-based real estate firm SatyaVani Projects and Consultants is engaging in discussions with European Real Estate Investment Trusts (REITs) to secure a substantial $150 million private equity investment. This funding will constitute a significant portion of the $190 million the company intends to allocate towards various projects in Hyderabad, Bangalore, and Visakhapatnam.
Funding Strategy
Mr. P Surya Prakash, the company's director, stated that alongside pursuing private equity, SatyaVani Projects is exploring additional avenues for raising capital. These include leveraging internal accruals and conducting a private placement. However, he refrained from disclosing the identities of the prospective investors.
Project Details
A major focus of the investment will be a sprawling 5 million square feet medical tourism project in Hyderabad. Estimated to cost $120 million, this ambitious undertaking encompasses the development of two hospitals, a health resort, and service apartments, designed to cater to the burgeoning medical tourism sector.
In Bangalore, SatyaVani Projects has earmarked $50 million for the establishment of an eco-friendly resort and a concomitant housing project, further diversifying its portfolio.
Furthermore, the company has allocated $20 million towards the development of residential projects in Visakhapatnam, solidifying its presence in the Andhra Pradesh real estate market. These strategic investments underscore SatyaVani Projects' commitment to expanding its footprint across key cities in South India.