Just when it seems that the realty run is almost over, a Deutsche Bank arm has announced an investment of over $1 billion over the next three years in the Indian real estate sector.
RREEF Alternate Investments, the global alternate investment management business of Deutsche Bank, today announced that it would invest over $1 billion in different realty projects in the country.
Mr. Kishore Gotely, country head of RREEF India Advisors Private Limited, said, “There is no particular format that we are looking at right now. We see attractive opportunities across the spectrum — residential, retail, hospitality and commercial real estate”.
Further he said, “Our preferred deal size would be between $50 million and $150 million and we are evaluating deals in western and northern India”.
RREEF Alternative Investments consists of three businesses globally — real estate, infrastructure and private equity.
He added, “We are working on deals involving roads, power, airport and railway terminals”.
Since it entered India, RREEF has made two investments. In January, it invested $70 million in Bangalore-based developer Golden Gates Properties.
Mr. Gotety said, “We have also invested $400 million in a 60 : 40 joint venture with a company in Hyderabad”.
