Gulf investors bullish on investing in Indian Real estate

December 18, 2006	(Be the first to rate this story!)  Loading ...
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Indian real estate has firmed its niche in the world business space encouraging global players to take a fresh view on fast flourishing India as a business and investment destination. Now, it has been succeeded in attracting Gulf investors by offering the prospects of lucrative returns, tax structuring benefits and increased security being real asset.

The Gulf companies that so far have shown inclination to add Indian property as an asset class to their investment portfolio include the names like Global Asia Real Estate, Dubai Properties, the Signature Group, the Palmon group.

Global Asia Real Estate Fund has recently closed a $75 million fund with an aim to use the fund in booming real estate market of India and China. This Shari’s compliant fund is also likely to focus on distressed assets in the same sector.

Likewise, the UAE based Palmon Group is bullish on investing in red hot Indian real estate. The conglomerate has recently made an investment of Rs. 39 crore in Mumbai’s BSEL tech park.

BSEL Infrastructure has bagged a contract worth Rs. 546 crore for constructing shopping malls in Nagpur. The company is also scheduled to take up the development work in major states like Maharashtra and Gujarat.

Dubai based asset management firm Signature Group will close to launching several real estate funds for investment in the UAE and India. The funds will be launched on the Dubai International Financial Exchange in 2007.

A few Gulf companies like Dubai Properties are holding wide ranging talks with several people for projects in India but have not yet finalized anything, as learnt from the sources.

News Published Under:   Real Estate India |

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