Sobha Developers has entered into Joint Venture (JV) with Sun-Area Property partners (Sun Apollo India Real Estate Fund) for the development of a 100% FDI compliant residential project in Bangalore through a Special Purpose Vehicle (SPV), Sobha Highrise Ventures.
Sun-Area Property partners will invest about Rs 50 crore into the SPV with an equal capital commitment by Sobha. The project comprise of the development of a residential building complex in a land area of 5.625 acres in Doddanekundi Village, Vathur Hobli, Bangalore East Talik comprising of 3 and 4 bedroom residential apartments.
Sobha Developers is a Rs 10 billion plus company is one of the largest and only backward integrated company in the construction arena.
