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Goldman Sachs may invest in Ozone Group’s real estate project

Monday, 10 Jul 2017

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Goldman Sachs intends to make an investment of USD 50 million in Ozone group’s real estate project. Both the companies are in the initial stages of talks and are evaluating the residential and commercial real estate assets of the developer. Goldman could invest upto USD 50 million in this transaction.

Earlier in 2015, Ozone had raised Rs 575 crore from Piramal for the Urbana project refinance loans and to speed up construction. Ozone group’s Urbana project is a 150 acre township which will have 20,000 homes on completion.

The township will also develop a two million sq ft information technology (IT) park and 3,00,000 sq ft of retail space, along with a school and a hospital. Ozone group is also developing a 45 acre township Metrozone in Chennai, and has launched a premium residential project in Mumbai’s Santacruz.

It is also working on three new projects in Bengaluru.