Singapore funds line up $8 bn for Indian realty
Financial Express Mumbai|September 25, 2023
WITH AMERICAN INVESTORS going slow on the 700 million square feet Indian property market, Singaporean investors and property developers have stepped in to take advantage of the lower competition and a spate of good deals.
RAGHAVENDRA KAMATH

Ballpark estimates, based on their announcements, show that they are looking to invest about $8 billion (₹66,400 crore) in Indian properties.

While Singaporean sovereign fund GIC is doing big deals in office properties, other investors such as CapitaLand Keppel Corporation's real estate arm Keppel Land and Mapletree are launching new funds and developing new properties.

GIC is in the final lap to buy the Waverock property owned jointly by Shapoorji Pallonji group and Allianz Real Estate in Hyderabad for ₹2,200 crore. In May this year, it joined Brookfield India REIT to acquire two large commercial assets, totalling 6.5 million square feet, from Brookfield Asset Management in an equal partnership for a valuation of $ 1.4 billion.

GIC was also in the race to buy the warehousing assets of ESR Allianz which finally went to Blackstone, sources said.

"They (Singaporean investors) are getting good pricing as others are not active. There is not much competition," said Shobhit Agarwal, managing director at Anarock Capital.

UNLIKE US MARKETS, Singaporean markets are on a rise, Agarwal said.

Bu hikaye Financial Express Mumbai dergisinin September 25, 2023 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Financial Express Mumbai dergisinin September 25, 2023 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

FINANCIAL EXPRESS MUMBAI DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
Financial Express Mumbai

Murdoch ally helps Ambani build media empire in India

SOHEE KIM PR SANJAI

time-read
3 dak  |
April 18, 2024
Financial Express Mumbai

Pandya, Dube & Rinku: Can they finish for India at T20 World Cup?

GOING INTO THE 2022 T20 World Cup in Australia Dinesh Karthik was assigned the finisher role and the batting lineup was built accordingly.

time-read
2 dak  |
April 18, 2024
Financial Express Mumbai

Nestle adds sugar to infant milk and cereal, finds report

A NEW REPORT has revealed that Nestle, the world's largest consumer goods and manufacturer of baby formula, is adding sugar to infant milk and cereal products sold in India, and other Asian, and African countries.

time-read
1 min  |
April 18, 2024
Financial Express Mumbai

India-made Daimler's electric mini truck to hit the road soon

INDIA WILL BE host to German trucking giant Daimler's only electric vehicle plant outside of Europe and Japan when it launches a locally-made electric light cargo truck in FY25.

time-read
2 dak  |
April 18, 2024
Samsung eyes ₹10,000 cr from India TV biz this year
Financial Express Mumbai

Samsung eyes ₹10,000 cr from India TV biz this year

SOUTH KOREAN GIANT Samsung is targeting a turnover of ₹10,000 crores for its television business in India this year, driven by growth in sales of its mid to-premium segment models, said Mohandeep Singh, senior VP, consumer electronics business in India.

time-read
1 min  |
April 18, 2024
Financial Express Mumbai

Microsoft AI Copilot speed boost for coding

WHEN SOFTWARE DEVELOPER Nikolai Avteniev got his hands on a preview version of Microsoft's Copilot coding assistant in 2021, he quickly saw the potential.

time-read
1 min  |
April 18, 2024
Financial Express Mumbai

US, China debt pose risks for global public finances: IMF

THE WORLD's TWO great economic rivals, China and the US, will drive much of the increase in global public debt over the next five years, with US spending creating trouble for many other countries by keeping interest rates high, officials at the International Monetary Fund said in a report.

time-read
1 min  |
April 18, 2024
Financial Express Mumbai

Language models in consumer tech

This move is designed to ensure better user experience & privacy

time-read
2 dak  |
April 18, 2024
Financial Express Mumbai

'Data centres' energy use doubles every four years'

Data centres are significant energy consumers, using about 2% of the world's power and emitting carbon dioxide equivalent to the airline industry.

time-read
2 dak  |
April 18, 2024
Financial Express Mumbai

Vi FPO: Foreign players invest big; about ₹5,400 crore raised

GQG, Fidelity buy almost 40% of the anchor investor portion

time-read
1 min  |
April 18, 2024