Blackstone to enter realty market with Nag Const
The Blackstone group, which bought 14.5% equity in the construction firm Nagarjuna Construction Company (NCC) for $150 million, is planning to take its association with NCC into the property marketThe US fund along with NCC’s real estate subsidiary NCC Urban, plans to develop properties across India. Currently, NCC is developing around 13 million sq ft residential and commercial space while Blackstone has plans to invest $1b in the Indian real estate over the next few years.
