MUMBAI: In some relief for the real estate sector during the covid-19 pandemic, alternative asset manager SBICAP Ventures Ltd has decided to reduce its internal rate of return (IRR) on funding of stalled affordable housing projects by 300 basis points to 12%.
The Special Window for Affordable and Mid-Income Housing or SWAMIH Investment Fund I is being managed by SBICAP Ventures. “We have taken another step forward to support the real estate sector...Given the extraordinary circumstances, SWAMIH Investment Fund I shall now provide construction funding at a 12% IRR," wrote Irfan A Kazi, chief investment officer, SWAMIH Investment Fund I in a post on LinkedIn.