NAREDCO Maharashtra, IFC Team Up for Sustainable Real Estate Development

Mumbai, January 30, 2025: NAREDCO Maharashtra has entered into a strategic partnership with the International Finance Corporation (IFC) EDGE team to work together and unlock global financing opportunities that will not only drive growth in the real estate sector but also focus on sustainable practices. This collaboration has come to fruition due to the efforts of the NextGen team, which played a key role in facilitating the partnership.

The Letter of Collaboration was signed by Diep Nguyen van-Houtte, Global Senior Manager of the Climate Business Department at IFC; Autif Sayyed, Green Building LEAD for South Asia at IFC; and Ridham Gada who signed it on behalf of NAREDCO Maharashtra. Gada is currently the President of NAREDCO Maharashtra NextGen.

According to this partnership, the IFC EDGE team will provide technical expertise on green building standards by conducting knowledge sessions at selected NAREDCO chapters, offering free EDGE expert training programs, and facilitating the representation of developers with EDGE-certified projects at EDGE Expert Café events and other regional gatherings.

At the same time, NAREDCO Maharashtra will support these efforts by organizing knowledge sessions with various NAREDCO chapters, advocating for the inclusion of EDGE standards in local and state incentive programs, and championing EDGE representation at NAREDCO-hosted events. This collaboration promises to empower NAREDCO’s member community with the tools and insights needed to drive the widespread adoption of sustainable real estate practices, positioning Maharashtra as a leader in green building development.

NAREDCO Maharashtra President Prashant Sharma said, “This partnership with the IFC EDGE team marks a pivotal moment for the real estate sector in Maharashtra. IFC’s unparalleled expertise in sustainable development and their global experience in financing green projects resonate with our vision to create a future where sustainable buildings are the norm. Collectively, we will enable stakeholders to spearhead meaningful, sustainable change and create environmentally-friendly, intelligent cities of the future.”