IFC and HDFC Capital Partner to Boost Green Affordable Housing Finance in India With $1B H-DREAM Fund

In a strategic move to advance green affordable housing and expand access to sustainable financing for property developers in India, IFC is committing up to $150 million as an anchor equity investment in H -DREAM Fund (HDFC Capital Development of Real Estate Affordable and Mid-Income Fund) managed by HDFC Capital Advisors Limited (HDFC Capital), the real estate private equity arm of the HDFC Group.

HDFC Capital, a subsidiary of HDFC Bank Limited—the largest private sector bank in India—will manage the Fund, which has a target corpus of $1 billion ($500 million with a green shoe of $500 million). The Fund will finance projects that prioritize affordable and mid-income housing, while implementing the EDGE (Excellence in Design for Greater Efficiencies) green building framework, in line with global sustainability standards.