Boman Irani (CMD, Rustomjee Group) announced that the Rustomjee Group is setting up a development fund platform, Mt. K Kapital which will be focused on projects in Mumbai Metropolitan Region - residential and mixed-use development. In the future, it will invest in completed mixed-use commercial assets across various cities. The SEBI filings for the CAT II AIF License have already been made.
Talking about the launch, Boman Irani, Chairman & Managing Director, Rustomjee Group said, "We take immense pride in the spaces that we've created. With a strong focus on Mumbai Metropolitan Region, Rustomjee has delivered some of the best developments in real estate. We are glad to create Mt. K Kapital platform and through this, we aim to leverage our development expertise and grow our presence in the MMR while maximizing value to the investors of the fund."
This venture will be led by Binitha Dalal and Abdeali Tambawala who bring together rich and diverse know-how in real estate and fund management with over 15 years of experience each with deep-rooted understanding of finance & investments in the real estate sector.
Binitha Dalal, Founder, Mt. K. Kapital quoted, "We believe that now is the right time to set up the real estate development fund platform. This announcement on the 26th Foundation day of Rustomjee Group makes it special. We will work towards creating true value for our investors and keep growing the scope of this platform in times to come. We aim to bring in assets with a top line of $0.5 billion in the first fund."
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( With inputs from ANI )
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