World Bank’s IFC and Sunteck Realty forms JV in MMR, Mumbai for affordable green housing Project

World Bank’s IFC and Sunteck Realty forms JV in MMR, Mumbai for affordable green housing Project

IFC and Sunteck Realty Partner for Green Housing Projects in Mumbai. World Bank’s IFC and Sunteck Realty signs JV in MMR to develop affordable green housing in Mumbai.

• Investment: Up to INR 750 crore (US$90 million)
• Joint Platform: Creates a collaborative framework for project development.
• Project Focus:
  • 12,000 high-quality housing units
  • 4-6 green housing projects
  • Mumbai Metropolitan Region (MMR)
  • Mid-income demographic

Project Significance:

• Addresses significant housing deficit in MMR, India’s largest housing market.
• Promotes sustainable and eco-friendly housing solutions.
• Aligns with the Government of India’s “Housing for All” initiative.

Investment Breakdown:

• IFC: Up to INR 330 crore (US$40 million)
• Sunteck Realty: Remaining balance

Key Quotes:

• Kamal Khetan, CMD, Sunteck Realty: “We are pleased to collaborate with IFC, addressing the housing shortage in India.”
• Wendy Werner, IFC Country Head, India: “This investment aligns with our strategy for affordable and eco-friendly housing.”

Overall, this partnership aims to provide much-needed housing options in Mumbai while promoting green building practices.

 

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in