India
Joint Venture between Property Fund Manager Cordea Savills and the Nichani Group launch real estate fund
Nov 23, 2007

Cordea Nichani, the joint venture between Cordea Savills and the Nichani Group, will launch their first product Cordea Nichani Indian Opportunities No.1. The fund aims to achieve net returns of 25 per cent per annum with a strategy to target land and development investment in high growth regions of India. Other India based construction and development groups will take minority shareholdings.

Cordea Nichani will have four key investment themes including residential development, special economic zones, hotel and leisure development, and serviced land. Government estimates state that 74 million new homes will be required through 2011. The government has also created special economic zones with attractive tax incentives to ensure job creation and meeting growth in demand for facilities in various sectors.

Cordea Nichani Indian Opportunities No.1 is a closed-ended private limited company incorporated in Mauritius. Cordea Savills and Nichani Group, through their affiliates, will be co-investors in the company.

Cordea Savills is an international fund manager with more than USD5.6bn in assets under management.

Source: Hedgeweek