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.