OKAS looking to raise $ 500 million for its real estate fund

20 Mar 2023 , 12:08 PM

OKAS, the real estate private equity division of DMI Group, is currently seeking to raise $500 million (equivalent to approximately Rs4,200 crore) for its second real estate fund. This fund will be used to finance affordable housing and office space initiatives.

The first fund, which invested $250 million in 20 real estate projects in Gurgaon, Noida, Lucknow, and Bengaluru, developed 11 million square feet of space.

The ticket size for the upcoming deployment will be between Rs50 and Rs150 crore.

New Investment Solutions, an asset management firm based in Liechtenstein, which headed the previous round in 2018, is the principal investor in the second fund.

Previously, the firm had invested in various real estate ventures, such as a residential project called Pardos OKAS located in Sector 90, Gurgaon, where they invested Rs120 crore. 

Additionally, they had invested Rs80 crore in an office space project situated in Sector 74, Gurgaon, and another Rs120 crore in a Whitefield office space project in Bengaluru. Lastly, the company had invested Rs160 crore in a residential project, Pardos OKAS, in Lucknow.

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