Lehman to invest $175 mn in Unitech proj

Mumbai, Jun 16: Real estate developer Unitech Limited has entered into an agreement with Lehman Brothers, that will invest USD 175 million for the fifty per cent stake in the initial phase of a real estate project in the city. Unitech and its real estate partner will develop one million square feet of office space, in the initial phase on the Western Express Highway, the company said in a release today.

Further, the construction costs will be equally split between the two and other partners, it added.

UNI