Real Estate News Update for August 16

Real Estate News Update for August 16

Dear Readers,

Welcome to the latest edition of ETRealty's daily newsletter, RealtyDigest! Through this especially curated newsletter, we aim to provide the latest real estate and allied industries' news, views, market trends, reports, video interviews and much more to help you navigate the world of real estate.

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Valor Estate to develop 5.7 million sq ft with L&T Realty and Lodha Group


Valor Estate (VEL) has executed binding agreements with L&T Realty and Lodha Group to develop 5.7 million sq ft carpet area with Rs 6,000 crore potential revenue share to the company.

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SBI-led banks key to insolvency case against Jaiprakash Associates


State Bank of India (SBI), ICICI Bank and IDBI Bank hold the key to the Jaiprakash Associates (JAL) insolvency resolution with admitted claims of more than Rs 51,000 crore, one of the biggest cases since the Insolvency and Bankruptcy Code (IBC) came into force in 2016.

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Kalpataru files draft IPO papers with SEBI to raise Rs 1,590 crore


Real estate firm Kalpataru Ltd has filed draft prospectus with market regulator SEBI to launch its initial public offering (IPO) for raising up to Rs 1,590 crore, mainly to reduce debt.

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Shriram Properties' appoints Ravindra Kumar Pandey as new CFO


Shriram Properties (SPL) has appointed Ravindra Kumar Pandey as the new chief financial officer (CFO) of the company, effective from August 14, 2024.

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UBS to liquidate $2 billion real estate fund as office downturn bites


UBS is to liquidate a $2 billion real estate fund it acquired when it bought Credit Suisse, the Swiss bank said on Thursday, in the latest sign of investors selling out of troubled commercial property markets.

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