Van Herk Groep invests USD 20 mn in VBHC Value Homes

Realty player VBHC Value Homes today said Rotterdam-based global investment firm Stichting Van Herk Investments has invested USD 20 million in it for developing affordable housing projects and enable it to expand its presence in the country.
This is the second round of investment by Van Herk Group. It had earlier in July last year invested in the equity capital of VBHC, the company said in a statement.
"VBHC Value Homes has made a strategic partnership with Stichting Van Herk Investments, which will invest USD 20 million, the largest investment since the announcement of the new FDI policy in the affordable segment in India," the statement said.

The company has plans to use the funds for developing affordable housing projects and development of affordable serviced apartments for young professionals and industrial workers as well as to expand its footprints in the country, it added further.
Commenting on the development VBHC Value Homes Chairman Jerry Rao said:" There is a huge potential in India for affordable housing, especially the affordable service apartments segment. We believe this association will be a perfect marriage of their extensive and global industry knowledge and our vision of delivering world class quality affordable homes".
Commenting on the partnership, Stichting Van Herk Investments founder Aat Van Herk said: "This investment is representative of our continued interest in India and our objective of associating with quality partners. This is also an opportunity to play a larger role in boosting the affordable housing market and contribute towards the larger goal of 'Housing for All by 2022' and 'Make in India' programs of the government.