Residential investment and development platform NeoLiv has initiated a fund raise of $150 million, with a green shoe option of $60 mn. The company plans to develop 12 residential and plotted development projects in Delhi-NCR and Mumbai Metropolitan Region (MMR).
NeoLiv has been designed to manage every facet of real estate projects, from financing to execution to final handover and even post-possession management. The company is also exploring the possibility of joint development. It is targeting 10 million sq feet of development by the end of this fiscal. It is also eyeing plotted developments in markets like Sonepat and Panipat among others.The company’s bulk offering in the group housing development will be in the Rs 1 crore to 3 crore bracket.
NeoLiv is a real estate funding and development platform founded by former MD of Godrej Properties Mohit Malhotra and six other equity partners from the real estate sector. Earlier, alternates-focused asset firm 360 ONE (formerly IIFL Wealth & Asset Management) has entered into a strategic partnership with NeoLiv by taking a minority stake in the company.
