KKR invests in Mumbai builder's plush projects

Singapore

KKR & Co, the private equity firm founded by Henry Kravis and George Roberts, will invest in two Mumbai projects by a developer of luxury condominiums in a property market that's grappling with the lowest home sales in at least five years.

KKR will invest 1.5 billion rupees (S$31 million) in Sunteck Realty Ltd's residential projects in the Bandra Kurla Complex, one of Mumbai's popular business districts, the two companies said in a joint statement without giving further details on the transaction. Set to open in 2016, Signia Isles and Signia Pearl have garnered high-profile tenants including top industrialists, executives and Bollywood celebrities, they said.