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Feb 7, 2008

Millennium Spire invest fund at Coimbatore

Millennium Spire, a real estate investment fund, will pump in $ one billion in the sector across the country, a senior company executive said today.The company envisaged pan-India investment in excess of $ one billion in the foreseeable future and intends to accelerate allocations to opportunities in South India, with Coimbatore being a key focus geography, said the Managing Director of Millennium S pire Mr Ashish Balla.

He said the company was not investing in land, but would fund infrastructure development projects on partnership basis. With regard to Coimbatore, Mr Balla said that one-fourth of the investment fund would be earmarked for the district for projects like an inner city mixed used project of landmark value and a knowledge based industrial township.

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