Morgan Stanley invests Rs 675 crore in Oberoi Constructions

Mumbai, Jan 18 (UNI) Morgan Stanley Real Estate today announced that they have invested Rs 675 crore (USD 152 million) in Oberoi Constructions, a leading Indian real estate developer which focusses on residential, commercial, retail and hospitality projects.

Oberoi Constructions has executed over 30 projects primarily in the commercial capital and has acquired approximately 15 million square feet of prime land across Mumbai for development.

''The pro-reform government policies combined with the globalization of the Indian economy has driven increased disposable incomes of the middle and upper middle classes, rapid urbanization and increased liquidity in the Indian markets. As a result of this, the Indian real estate industry has seen and will continue to see exceptional growth for several more years,'' the Managing Director of Oberoi Constructions said in a statement.

UNI