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Walton Street Bullish on Indian Retail
US-based property fund Walton Street Capital is eager to make investments in Indian retail sector, one of the fast flourishing real estate segments in the country.
The fund is also looking forward to Indian hospitality industry. It has already committed a whopping investment of $3.5 billion in around 150 separate transitions in the US and other international property markets.
At present, Walton Street Capital does not own any India-focused fund. The company’s global fund VI recently raised $2.5 billion from the international market. Of this, a part has been earmarked for Indian property market.
Close on heels of real estate, the Indian hospitality and retail sectors are also yielding attractive returns on investments. Walton Street Capital is evaluating different investment prospects in these sectors, says company MD Sourav Goswami.
The fund is making rapid progress in international hospitality sector. In 2005, the company together with Merrill Lynch acquired the 293-rooms Prague Marriot Hotel and BH Centrum office and retail complex in 2005.
Walton Street is entering into a joint venture with Shriram Properties for the development of 20-million sq feet of residential, retail, office and civic infrastructure in Uttarpara, West Bengal. It will involve an investment of Rs 5,000 crore.
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