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DLF sells equity to Merrill
DLF Ltd, India’s largest-listed real estate firm, said on Monday it had sold 49 per cent equity in seven residential projects to a Merrill Lynch firm for Rs. 14.81 billion ($377 million). DLF said it had also sold 49 per cent stake in another housing project in northern Haryana State to Brahma Investments for Rs. 1.94 billion in a separate deal.
LaSalle initiative
Global real estate investor LaSalle Investment Management aims to increase its Asia-Pacific property investment by more than 50 per cent in 2008, accelerating its spending plans in a region where it sees strong growth, a company executive said on Tuesday.
LaSalle Investment has said it expects to spend $3 billion in Asia-Pacific this year, with sales in the region amounting to $300 million.
“I think we’d like to see an increase in excess of 50 per cent in the Asia-Pacific” for 2008, David Edwards, regional director for LaSalle Investment Management, said.
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