Jones Lang LaSalle is now planning to raise a new commercial realty fund. JLL plans to raise Rs.1200 Cr for investing in the commercial sector.
BANGALORE: Last year Jones Lang LaSalle has invested in the residential market of Bangalore. This year JLL is planning to have a shift from the residential sector to the commercial sector.
If the property consultants group raised Rs.300 Cr for the residential investment, this year JLL will raise Rs.1200 Cr for investing in the commercial sector.
JLL invested nearly Rs.30 Cr in two residential projects last year. The residential market of Bangalore is considered as the most stable market in India. Unlike other markets which are investor oriented, the Bangalore market is end-user oriented. This stability would be what attracted JLL to invest in the high tech city.
The new fund is expected to be launched by the end of this year. Though it is reported to be invested in the commercial sector, details are unavailable. Confusions exist on whether the fund will be invested in India or whether it will be in overseas.
Sources with direct knowledge informed that the decision has not yet been taken. Overseas investment also is under consideration.
JLL’s senior executives stood beyond contact. No one could contact them. Meanwhile a person with direct knowledge said that the fund will be invested in the commercial sector.
Commercial investments are better now. They offer better returns to the investors. JLL is also analyzing the prospects of investing in retail and hospitality sectors.
JLL entered in to the fund management arena in India last year. However for them the fund management is not anything new for them. LaSalle Investment Management, a subsidiary of JLL, manages funds over Rs.2.50 lakh crore. CBRE, Knight Frank, etc. are others who plan to invest in the Indian realty.
