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Virtuous enters Delhi real estate, to invest up to Rs 800 crore

Virtuous Retail, backed by Dutch pension fund manager APG Asset Management, has purchased an ownership stake in North Delhi Metro Mall that will develop a premium retail facility in the heart of the national capital. In a first round of funding, Virtuous has invested about Rs 350 crore while the total investment would go up to Rs 800 crore. Virtuous Retail South Asia Pte. Ltd. (VRSA) is expanding its footprint into New Delhi with such investments to build the retail centre spread across 12.3 acres. The project will be located in Civil Lines, which is near the Delhi University North Campus.

Source : NAREDCO