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Anant Raj Mall Acquisition & Development Project: Kirtinagar (Delhi), India |
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Placement Agent & Advisor |
Co-Promoters |
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Highlights
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First Shar’ah-compliant FDI Investment in India’s Retail Segment
All aspects of the Investing Company and its respective activities – and ultimately the activities of the Company – have been structured on a Shar’ah-compliant basis and will be closely monitored by Sh. Nizam Yaqoubi, the appointed Shar’ah Advisor.
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Strong Joint Venture Partner
Arant Raj Industries Limited (ARIL), JV Partner, is the flagship company of Anant Raj Group – one of North India’s largest development companies. The Group, which is a listed entity on the Bombay and National Stock Exchanges, has been in operation for over 30 years and has developed over 11.5 million square feet of commercial and residential space. Current market cap of ARIL – approximately US$ 1.2 billion.
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Superior Location
The development is located 8 km away from Connaught Place – the Central Business District of Kirtinagar, West Delhi and one of the oldest retail markets of New Delhi. The property is in between two Delhi Metro stations at a distance of less than 500 meters from both stations. The mall is on a 45-meter wide road and has excellent frontage on Patel Road – a major arterial road in West Delhi. The site also has direct access to Ring Road of Delhi.
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Keen Retailer Interest
Wal-Mart, Carrefour and Hypercity are among the leading retailers who have expressed a keen interest in leasing mall space, due to its excellent location, large floor plate size, promoter profile and professional mall management (Sandalwood – a joint venture between Jones Lang LaSalle and Colonial First State Property Management).
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Less Construction Risk
The Property has obtained all necessary approvals and is under development with over 50% construction completed. ARIL, which has provided a construction cost guarantee, has an in-house construction division that is expected to complete the development for the start of operations by March 2009.
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Targeted Returns
The Property – ROE of 83% (20% IRR). The Investment – Minimum ROE of 31% (9%IRR).
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Hold Period: 3.5 years |
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| For further information,
please contact the Real Estate Department at +973 17-549-494. |
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| TAIB Bank is the Principal
Founding Shareholder of Acacia, a real estate investment
company that focuses on income producing properties and select
development projects in the U.S., Europe, as well as Turkey, India, the GCC Countries and
other emerging markets. For more information, contact (+973) 17-549-392. |
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