Fraport to Step into Indian Real Estate

October 9, 2007	(Be the first to rate this story!)  Loading ...
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Fraport, the German transport company which operates the Frankfurt International Airport, is looking forward to several partnership ventures in India with a minimum of 26% equity stake in future airport projects in the country.

Fraport holds a 10% stake in the GMR-led consortium involved in giving a new face lift to the international airport operator. The company has joined hands with the real estate giant DLF for airport development projects. The agreement includes rights for projects in specific locations within India. However, Fraport is very much willing to tie-ups with different players in other regions.

The strategy being followed by India is very apparent. Fraport actually wishes to have at least 26% equity stake in any project that it takes up. The company is planning joint ventures for Greenfield or airport modernization projects for local players depending on the region, says Fraport senior executive manager (global investments & management) Christoph Nanke.

The details of the projects where Fraport would bid cannot be ascertained.  However, Goa and Gujarat would be on the company’s radar, as told by Klaus Jeschke who belongs to the India management tem for Fraport.

Fraport sees land as an upcoming prospect for real estate management and development, adds Mr. Jeschke.

News Published Under:   Real Estate India |

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