Shapoorji Pallonji secured Funding to Complete Imperial Avenue

Houlihan Lokey, the worldwide funding financial institution indexed at the New York Stock Exchange (NYSE: HLI), is happy to announce that it has secured investment for SPIPD to finance the finishing touch of the Imperial Avenue residential development in Downtown Dubai.

Arun Reddy, Managing Director and Head of the Middle East and Africa at Houlihan Lokey, commented, “This transaction marks an important milestone for the development of the Imperial Avenue project and Dubai. We worked closely with the Real Estate Regulatory Authority (RERA) who helped facilitate the transaction, and we were able to leverage our global reach and access to international capital to secure the desired funding for our client restructuring of the local alongside bank.”

SPIPD is the advance arm of Shapoorji Pallonji, considered one of India’s greatest trade conglomerates with a number one presence within the sectors of Engineering & ConstructionInfrastructure, Real Estate, Water, Energyand Financial Services and a powerful worker base of over 70,000 folks throughout 70 nations.

Imperial Avenue is Shapoorji’s flagship actual property mission within the UAE. The 45-floor residential tower is lately 55 p.c entire and is predicted to succeed in finishing touch through the top of subsequent yr.

“The transaction is a testament to Dubai’s attractiveness to international investors as well as Houlihan Lokey’s expertise and connectivity in the market. Dubai’s real estate market continues to offer the best relative value across 25 global cities,” mentioned Mr. Reddy, who believes this transaction confirms sure marketplace sentiment and world capital urge for food for Dubai’s actual property marketplace vis-à-vis different markets.

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