Citigroup Property Investors has invested Rs 640 crore in four special economic zones (SEZs) being developed by the Delhi-based property developer BPTP, picking up a 40 per cent stake in the special purpose vehicle.
This is Citigroups second major investment in BPTP after recently picking up 5.89 per cent for Rs 322.50 crore. Citigroup Property has earmarked Rs 2,000 crore for investing in the Indian property market.
BPTP is developing a 25 acre SEZ in Noida, 100 acre SEZ in Greater Noida, 54 acre SEZ in Faridabad and 27 acre SEZ in Gurgaon, with a total saleable space of 20 million square feet.
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