A prominent pioneer in executing community living concepts, Stans Buildtech Homes has secured Rs. 160 crore from SWAMIH Fund directed by SBICAP Ventures Ltd for its Mumbai project, Sky Annex.
The project is nestled in Chembur and was acquired by Stans Buildtech has been under construction since 2016.
A lot of troubles including tenants, approvals, flat buyers and inadequate financing to cater the demands led the project to be in blocked condition, and now the project is set to restart its construction process, with support of the funding deal.
Sharing his gratefulness on bagging the fresh funding from SWAMIH Fund , Azizur Rehman Momin, Managing Director, Stans Buildtech Homes stated, “At 'Stans Buildtech Homes' our foremost objective, supported by the SWAMIH fund, is to guarantee the punctual completion of the project. Colliers has been instrumental in achieving this collaboration”.
Similarly, Suresh Kozhikote, Managing Director & CEO, SBICAP Ventures said, “This deal exemplifies SWAMIH Fund's commitment to understanding and resolving complex real estate situations. By providing solution capital, we are not only unlocking value for various stakeholders but also fulfilling our objective of supporting homebuyers. This transaction enhances our position as a key player in the Indian real estate market”.
As supported Stans Buildtech on this financial transaction, Piyush Gupta, Managing Director, Capital Markets and Investment Solutions for Colliers India said, “We played an active role in a financing transaction which involved working on a situation which unlocked value for various stakeholders including landowner, developer, tenants, flat buyers. We worked closely with SWAMIH Fund to structure a financing solution".
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