Real estate developer Rustomjee Group on Thursday said it is setting up a $50-75 million (Rs 380-570 crore) development fund platform, Mt K Kapital, to fund residential and mixed-use development projects in the Mumbai metropolitan region (MMR) of India.
“We aim to leverage our development expertise and grow our presence in MMR while maximising value to the investors of the fund,” Boman Irani, Chairman and Managing Director, Rustomjee Group, said in a statement.
The fund will be led by Binitha Dalal and Abdeali Tambawala who bring in over 15 years of experience in finance and investments in the real estate sector, the statement added.
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