EB5 Capital Visits India to Raise Investment for New York Ritz-Carlton Project as the Hotel Chain Comes to Pune and Mumbai for the First Time

/ -- EB5 Capital announced today its scheduled travel to Pune and Mumbai, India, to meet with prospects interested in acquiring a US Green Card by investing in a flagship Ritz-Carlton hotel project on Broadway in New York City.

The decision to target Pune and Mumbai coincides with the planning and construction of the luxury Ritz-Carlton brand's second and third ever Indian hotels in those cities. India's first Ritz-Carlton opened in Bangalore in 2013.

"With two new Ritz-Carlton hotels opening soon in Maharashtra, potential Indian EB-5 investors are able to relate to their outward investment in the United States as they will already be familiar with the Ritz-Carlton brand in India," said Juline Kaleyias, EB5 Capital's Director of Investor Relations.

Although divided by more than 12,000 kilometers, the Ritz-Carlton in New York's NoMad neighborhood will all share distinctive features of the respected hotel brand with the new Ritz-Carlton in Pune's Yerawada district and the planned Ritz-Carlton in Worli, Mumbai. All three hotels will offer havens from the bustling cities outside, with state-of-the-art spas, luxury restaurants and shops, and open terraces with greenery and trees.

The Pune hotel is scheduled to open later this year and the Mumbai hotel following on in 2020. Construction of the New York Ritz-Carlton began in July 2018 and is projected to open in 2021. EB5 Capital had already received its I-924 Exemplar petition approval from the United States Citizenship and Immigration Service (USCIS) on September 27, 2018, and began receiving individual I-526 petition approvals in October 2018. The earliest I-526 approval came in 10 months.

EB5 Capital's Senior Vice President of Global Operations, Brian Ostar, will make the trip on behalf of the company.

"Given its tradition as a leader in information technology and manufacturing, it is unsurprising that we are experiencing increasing levels of interest in the EB-5 program from Pune," said Brian Ostar. "While excitement is building in Pune around the launch of the new Ritz-Carlton hotel, we are experiencing an uptick in interest in our Ritz-Carlton project in Midtown Manhattan."
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