ArisUnitern has joined forces with Jiraaf where the latter will provide a line of credit of Rs 250 cr to identify and give wings to real estate projects like plotted development, farm plots, villas, villaments, residential projects and last mile funding for stuck projects wherein the development will be carried on by ArisUnitern. With this association, ArisUnitern will be able to provide funding solution on projects that they generally take over as development managers, apart from being just service providers. Currently ArisUnitern is focusing on development management projects and plans to add five projects worth Rs 500 crore under its portfolio. It currently has four development management (DM) projects under execution across key markets in southern India.
Navin Dhanuka, CEO & MD, ArisUnitern, commented, “We will be the first and only professional service providers in the entire of South of India to provide end to end development solutions in the RE arena, including providing capital, material and pool of talented professionals in all areas; to undertake and complete RE projects on or before time. This association with Jiraaf gives us the impetus to provide capital and participate in the development not merely as service providers. Developers, financial institutions and land owners will now look at us not only as a solution provider, but as solution implementors. This partnership along with our AIF (under formation) of Rs 350 crore gives us enough ammunition to undertake RE projects. “
When asked about the alliance, Saurav Ghosh and Vineet Agrawal, co-founders of Jiraaf, said, “Our large set of investors are looking for RE opportunities developed by professional teams and hence this tie up satiates the need of our investors. This partnership will bring in a lot of transparency and governance in project implementation and gives significant comfort to Investors. We are already evaluating investment opportunities of around Rs 100 cr to be deployed in the next quarter under this association.”S
“Our aim is to simplify real estate,” said Srini Gopalan, chairman of ArisUnitern.
