Red Fort Capital to invest in Hyderabad real estate

Private equity firm Red Fort Capital plans to invest about Rs 2,700 crore in Indian real estate by 2009, including acquisition of 2,500 acres of land in over 20 cities across the country. The company will develop properties worth Rs 12,000 crore.

Red Fort Capital has already acquired over 1,000 acres of land in different parts of the country, with a strong interest in Mumbai, Pune, Chennai, Hyderabad, Bangalore, Kolkata and Vishakhapatnam markets. Having committed a significant portion of the first fund of 425 million dollar, Red Fort is now in the process of utilising the recently launched Rs 1,000 crore domestic fund.

The company would develop residential, commercial, hotels, hospitals and retail spaces in these lands. The recent controversies have made the company further gun-shy of developing Special Economic Zones.