The Hindu Business Line : Milestone ties up with Ecofirst

New venture: Mr Kim Slowe, Chairman, Ecofirst, UK, and Mr Ved Prakash Arya, Managing Director, Milestone Capital Advisors at a press conference in Mumbai on Thursday. —

Our Bureau

Mumbai, July 24 Milestone Capital Advisors, a real estate fund house, on Thursday announced the launch of its Milestone Ecofirst Advisory Services through a 50:50 joint venture with Ecofirst.

Ecofirst, a J Leon group company based in UK, is a developer of sustainable buildings.

With this joint venture, Milestone will now offer its investee companies/projects specialised consultancy services for eco-friendly development. “We want to ensure that most of the development being funded by Milestone across the country would be eco-friendly and meet global norms in sustainable development. We will be offering green building consultancy to developers not just in metros but also in tier II and III cities,” said Mr Ved Prakash Arya, Managing Director of Milestone Capital Advisors.

While green buildings may cost about 5-10 per cent more to construct, the savings in annual energy costs alone can be 30-40 per cent, said Mr Kim Slowe, Principal Consultant, Ecofirst.

Firstly, the joint venture will offer its consultancy services to projects being funded by Milestone and later extend the service to third party developers as well. “The proposed venture will have a core team of professionals trained in Leadership in Energy and Environmental Design (LEED) and will provide a full service offering through a network of specialists and experts in energy services, water and waste management, material and resource analysis along with suppliers, vendors, LEED facilitators, architects, urban planners etc,” said Mr P.G. Ganapathy, Director of the venture.

Milestone Capital Advisors is currently in the process of raising Rs 500 crore for its domestic fund, Milestone Domestic Scheme II. The fund house has so far raised over Rs 2,400 crore from the domestic market and has so far signed investment deals worth Rs 1,800 crore.

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