Salarpuria Sattva Group and Apollo Asia RE Singapore Pte Ltd (“Apollo Asia Fund”) have entered into a Joint Venture to acquire 100% stake from a group of offshore investors in two real estate projects at Bangalore and Vadodra. The deal is valued at Rs. 275 Crores ($42 Million).
Bijay Agarwal, MD, Salarpuria Sattva Group said, “We plan to develop these projects as landmark residential developments in Bangalore and Vadodra and look forward to partnering with Apollo Asia Fund in more Joint Ventures in the future.” Nipun Sahni, Partner at AGM India Advisors said, “Given the group’s reputation and proven track record in real estate we believe they are very well positioned to add value to these projects”. The Salarpuria Sattva Group has recently partnered with Blackstone to develop a 7 million sq.ft IT Park in Hyderabad.