AIM-listed Indian property investor Ishaan Real Estate has bolstered its board with the appointment of Green Property founder Stephen Vernon as non-executive director.
Vernon is chairman and chief executive of Irish-based development and investment group Green Property, and also sits on the boards of the UK Balanced Property Trust and Henderson Global Property Companies. He will join former Land Securities chief executive Ian Henderson, who is chairman, on the Ishaan board.
The appointment comes as Ishaan announced its results for the year to 31 March. The company saw the value of its portfolio of properties, in which it holds a 40% interest, rise 18% to £524m.
Having raised £207m upon listing on AIM in November 2006, Ishaan has invested £113m in its initial portfolio at 30 June and adjusted net asset value is 112p a share.
Henderson said: ‘Investment in the initial portfolio of assets is being completed largely according to plan and the increase in adjusted net asset value reflects the strong demand for our properties and the enormous potential of the Indian property market.’
No comments yet