Acacia Real Estate has acquired a 26 per cent stake in a retail development mall in India in a Sharia-compliant deal.
The retail mall in Delhi was acquired through a joint venture with Anant Raj Group, a publicly listed company with a market capitalisation of $1.2 billion.
The project is expected to generate a return on equity for investors of 83pc over a three and a half year holding period.
TAIB Bank has been appointed as the exclusive placement agent for the project.
The $220 million retail mall development will consist of 600,000 square feet of retail space upon completion.
More : gulf-daily-news.com
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