OKAS, the real estate private equity arm of the DMI Group, has recently launched its second real estate fund. The primary focus of the second fund, targeted at $500 million, will be on delivering high-quality, affordable homes catering to India’s growing middle class and on building and leasing exceptional Grade A office space.
The first fund, with 11mm square feet under development, has deployed $250 million across 20 real estate projects concentrated in Gurgaon, Noida, Lucknow and Bangalore. The lead investor is NIS (New Investment Solutions), a Liechtenstein - based asset management company that had led the earlier round in 2018.
Shivashish Chatterjee, Co-Founder of DMI, commented, “A vibrant real estate sector with credible participants is critical for India to realize its goal of a $5Tr economy in the near term. We are committed to deepening our engagement in both residential and commercial development with this second fund and grow the OKAS and PARDOS brands into symbols of reliability and quality for both households and companies.”
Yuvraja C. Singh, Co-Founder of DMI, commented, “The customer for real estate in India has become more discerning and expects not only a top-quality product and timely delivery, but also transparency, consistency, and accountability. We are proud that we have been able to deliver on these objectives and complete all of our earlier projects ahead of the committed timelines. We are confident that we will be able to continue to create a new benchmark for quality with our upcoming work.”
