CNN Central News & Network–ITDC India Epress/ITDC News Bhopal: SPR Construction Private Limited (SPR) has secured Rs. 750 crore of investments from funds managed by Oaktree Capital Management, L.P. (Oaktree), one of the world’s leading alternative investment managers, with USD 209 billion in assets under management. This investment marks a major milestone for SPR City – Chennai’s largest integrated township – and reinforces global investor confidence in the project’s strong fundamentals.
This investment is a very small fraction of the asset value expected to be unlocked in the next 8–12 months. This funding also allows full repayment of existing Altico Capital debt on the project.
Combined, the two assets will form the largest multi-commodity trade and shopping destination across South Asia (SAARC nations).
As per trends, any commercial place generates direct employment for one person and indirect employment for three people for every 100 sq. ft.
With this analogy, 3.5 million sq. ft. of Market of India and Mall combined will generate direct employment for 35,000 people and indirect employment for over 100,000 people, thus transforming the socio-economic landscape of not only North Chennai but the entire Southern India, in terms of trade and shopping.
Why Oaktree Invested
Oaktree’s decision follows extensive due diligence conducted by leading global advisors including Deloitte (financial & tax), AZB Partners (legal & title), Knight Frank (technical & cost), and Planmaxx (mall advisory & feasibility).
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