PROJECT

Projects

Summary of Investment Information

Project Number

45533

Company Name

SUNTECK REALTY LIMITED

Date SPI Disclosed

Oct 9, 2023

Country

India

Region

South Asia

Projected Board Date

Apr 7, 2023

Environmental Category

B - Limited

Status

Pending Disbursement

Last Updated Date

Oct 10, 2023

Department

Regional Industry - MAS Asia & Pac

Industry

other

Previous Events

Approved : Apr 7, 2023
Signed : Sep 15, 2023

Sector

other

Project Description

The proposed Project involves a total investment of up to US$40 million (in equivalent INR) to Sunteck Realty Limited (Sunteck or the Company) and/or its subsidiaries for developing housing projects.

The IFC financing will be used for expansion of the Company’s operations, including for part-financing 4-6 housing projects to be mutually identified by the Company and IFC primarily in the Mumbai Metropolitan Region (MMR) in India (altogether the “Project”). The housing projects are expected to be green housing projects in the suburbs of Mumbai and will help develop these micro-markets and strengthen the Company’s presence in these locations.

Associated Advisory Engagement

                        

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation