New Delhi:
A Dubai-based investment firm on Tuesday announced its entry into the Indian market with an initial commitment to invest $300 million in the real estate and technology sectors over the next five years.
Relam Investment LLC will make India its investment hub in Southeast Asian markets, its chairman and managing director Sultan Ali Rashed Lootah said.
"We have allocated an investment portfolio of USD 50 million to fund emerging technology companies and another USD 250 million into the real estate sector," Lootah was quoted as saying by PTI.
The company is investing in three technology companies - Oya, Bricx and T-Hub, and the investment will be done over a period of next five years, he said.
"In the real estate sector, we would be looking at investment in commercial as well as affordable, energy-efficient and sustainable housing projects," he said.
The company is open to either invest directly in a real estate project or partner with any domestic company to invest, Lootah added.
Relam Investment LLC, a joint venture between UAE-based Vault Investment and Vietnamese MIG Holding, also signed a cooperation agreement with Mumbai-based RRP S4E Innovation on Tuesday, to set up renewable energy plants in the country.
The company also plans to focus on investments in energy, oil and gas, trading, healthcare, retail and agriculture sectors.
