South-based Nichani group, on Thursday, announced that the company has formed a joint venture with UK based property fund manager Cordea Savills.
The JV, named Cordea Nichani will provide realty fund products that will give investors the access to Indian economy, it said in a joint statement here. “Our first product is Cordea Nichani Indian opportunities No: 1, which offers access to land and development opportunities in high growth regions of India, targeting a net returns of 25 per cent per annum,” said Cordea Savills Executive Chairman John Partridge.
“Cordea Nichani Indian opportunities No:1, has set the target for equity raising at $200 million with a first closing in November 2007,” he said.
