Qatar Holding Llc is to invest USD 250 mn in Arthveda Fund Management Pvt. Ltd’s new Affordable Housing Fund, Invest-Gate reports.
Qatar Holding, a subsidiary of the Qatari Investment Authority, will invest in low and medium-income housing projects, according to a statement.
According to the statement, a third of Qatar’s investments will go to projects in distant suburbs of Mumbai among other cities like Hyderabad, Bengaluru, Nagpur, Lucknow and Jaipur.
While Arthveda also raised the capital with the help of CI Holding Global, a Dubai-based investment banking firm, India needs to build 19 mn urban housing units for low- and medium-income categories by 2022 across tier I, II and III cities, which require a total investment cost of USD 1 trillion.