RIRIC engages Greenwich Group International for USD 1 Billion in financing
Largest Foreign Direct Investment in History into Indian Real Estate — RIRIC partners with New York's Greenwich Group International to capitalize the Royal Garden City development.
VANCOUVER — Royal Indian Raj International Corporation today announced it has entered into a strategic partnership with New York-based investment bank Greenwich Group International to secure USD 1 billion in debt and equity financing for the Royal Garden City development program.
The transaction marks one of the largest dedicated India-focused real-estate investment commitments to date, channeling foreign capital into integrated township development across the country's Tier-1 and Tier-2 cities.
"With the Indian real estate sector in transition and recent landmark legislation allowing foreign direct investment in real estate, the opportunity for participation in this formerly closed market is heightening," said RIRIC Chairman and CEO Manoj C. Benjamin.
Greenwich Group International is one of the world's leading real-estate investment banking firms, with offices in New York, London, Frankfurt, Hong Kong, Tokyo, Sydney, Sao Paulo and Mumbai. The firm will lead capital-raising activity on behalf of RIRIC across institutional investors globally.