Housing complexes developed under the alliance are set to use 20% less water and energy. Credit: iMahesh/commons.wikimedia.org.

The International Finance Corporation (IFC), a member of the World Bank, is joining forces with India-based real estate company Sunteck Realty to develop housing projects in Maharashtra, India.

As part of the collaboration, the parties will form a joint platform to build approximately 12,000 housing units.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The platform will see an overall investment of roughly Rs7.5bn ($90m) and will develop four to six green housing projects within the Mumbai Metropolitan Region (MMR).

The IFC will invest approximately Rs3.3bn of the total Rs7.5bn and Sunteck will invest the remaining amount.

The IFC-Sunteck partnership is focused on the construction of large-scale housing developments in Mumbai’s outlying suburbs for the mid-income demographic.

See Also:

Sunteck chief managing director Kamal Khetan said: “Our wide range of offerings provide high-quality amenities and enhanced lifestyles for all the segments of the population.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“This strategic partnership demonstrates our capability to develop high-quality large-scale housing projects in the MMR and aligns with our vision of sustainable and green housing solutions.”

With the IFC’s Excellence in Design for Greater Efficiencies green building certification, the partnership seeks to minimise the water and energy consumption of housing complexes under the platform by a minimum of 20%. 

IFC India head Wendy Werner said: “This investment aligns with our strategy to create more inclusive and equitable cities by backing affordable and eco-friendly housing through partnerships with reputed companies like Sunteck Realty.

“It also supports the government of India’s ‘Housing for All’ initiative, delivering essential societal benefits including shelter, safety, job opportunities, wealth generation, and enhanced credit access.”