Westport Capital Partners Invests in Residential Real Estate in India

                                                                                         

WestWestport Capital Partners LLC announced that it is developing a residential real estate complex in Hyderabad, India. Westport is working with a local development partner to build the project. Total development costs will be approximately $100 million.port provides domestic and international investment opportunities to institutional and private clients. Headquartered in Westport, CT, the firm also has offices in Los Angeles and Mumbai, India. Westport applies a fundamental, value-oriented approach to investing in real estate and maintains the flexibility to purchase real properties, mortgages, equity and debt in both private and public market opportunities.

The project, which sits on 60 acres of land, will consist of 330 villas of approximately 3,500 square feet each. Construction, to be done in phases, has begun and final completion will be in approximately four years. The villas are for sale to private owners and several of the units have already been reserved.

Hyderabad is a city of approximately six million people in southern India. Known for its educated workforce, rapidly improving infrastructure and proactive municipal government, it has developed dynamic Information Technology, Technology Services, and Biotech industries. In 2006, Information Technology job growth was 18%.

Greg Geiger, Westport Principal, said, “We are excited about the prospects for residential real estate growth in India, and in Hyderabad in particular. The demographics show a clear need for new housing and the rising income of the population will support developments such as this one. We will continue to look for opportunities in India.”

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Source: IndiaRealEstateblog

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