Global sovereign funds and private equity players are showing immense interest in India’s commercial real estate segment.
The biggest deal ever in the Indian commercial realty segment was sealed last October, when Canadian private equity giant Brookfield Asset Management acquired the entire 4.5 million sq. ft. commercial portfolio of leading domestic builder Hiranandani Group for $1 billion, òr ₹6,400 crore. (See Top Beneficiaries.) With this single acquisition, the total private equity investment (PE) in Indian commercial real estate in 2016 rose to $1,997 million, almost twice the $1,154 million pumped in the previous year (see Double Gain). The Hiranandani buyout was Brookfield’s second major foray into Indian commercial real estate. In 2014, it had taken over four properties of Unitech Corporate Parks (UCP) in special economic zones and acquired 60 per cent stake in two of its other assets as well for ₹3,500 crore. Later, it acquired the remaining 40 per cent of the two other properties too.
Another deal in 2016 saw Dutch pension fund APG invest $450 million in the Xander Group’s real estate retail arm in India, Virtuous Retail South Asia. The Xander Group is already developing 66 million sq. ft. in India (including residential projects). Singapore-based developer and investor Ascendas-Singbridge has invested close to $2 billion in the commercial segment. “Even as we speak, our company is actively discussing another deal in one of the top six cities of India,” Sanjay Dutt, CEO, India Operations told BT. Sovereign funds of countries such as United Arab Emirates (Abu Dhabi Investment Authority), Qatar (Qatar Investment Authority), Canada (Canada Pension Plan Investment Board) and Singapore (GIC) are all in the hunt, as are global PE giants like KKR, Warburg, Propium PE and Sun Apollo. GIC is said to be close to buying a 40 per cent stake in domestic real estate heavyweight DLF’s rental business, but the deal is taking longer than expected due to differences over valuation.
Bu hikaye Business Today dergisinin May 07, 2017 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Today dergisinin May 07, 2017 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.