Deepak Parekh, Chairman, HDFC said the current lack of flexible, long-term capital is one of the key challenges facing developers of affordable and mid income housing in India. This Fund will help address the demand-supply gap in affordable housing and will ensure that flexible financing is provided to quality developers”.
Sujoy Bose, MD & CEO, NIIF, said: “Housing remains a critical need in India and the demand for housing is expected to grow substantially with increased urbanization. This demand, in conjunction with reforms implemented in the sector creates an attractive investment opportunity for disciplined developers and knowledgeable investors”.
NIIF, fund manager anchored by Government of India, seeks to create long-term value for domestic and international investors seeking to invest in energy, transportation, urban infrastructure and other infrastructure-related sectors in India.