OMR Mall Developers Pvt Ltd (OMRD) has raised a debt funding of ₹244 crore from Kotak India Real Estate Fund for the completion of its Marina Mall.
OMRD is a special purpose vehicle promoted by Mukrim Habeeb and his family and developer Allied Investments and Housing Pvt Ltd (Allied Housing), according to a press release.
While developers will get 33 per cent stake, the remaining 67 per cent will be shared by the landowners.
The project will be finished within 8-10 months, the release said.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.