A sovereign fund of the Sultanate of Oman is investing roughly $125m, in Mangalore-based realty developer Mohtisham’s 300-acre integrated township, sources privy to the development said. The deal is probably the largest fund action in Indian tier-II real estate.
Oman Investment Fund, through a Cypress-incorporated entity, is picking up 50% stake in Mohtisham Estates, a joint venture developing a 18-19m sq ft project on the Mangalore-Bangalore highway.
Source: Property Week