Merrill Lynch has invested $377 million in the Indian real estate market, through the purchase of a 49% share of a portfolio of residential properties. The portfolio is managed by DLF, one of India’s largest developers, and comprises seven mid-income residential projects in Chennai, Bangalore, Kochi and Indore. The deal brings Merrill Lynch’s total investment in the market to $550 million.
Rachel Wolcott,
December 07, 2007