For Jones Lang LaSalle, Bangalore realty is the best choice for investment. The global property consultant will enter into the real estate investment segment through investing in Bangalore.
Jones Lang LaSalle plans to step into the real estate investment for the first time. They will invest in the real estate sector of Bangalore, their first-choice of preference .
For developing two luxury housing projects in Bangalore, Jones Lang LaSalle will invest Rs. 30 Cr. The amount was collected in the form of real estate fund, their first India-focused fund.
The investment deal will be managed by Segregated Funds Group of JLL. Around Rs.300 Cr was collected through this fund. The fund is already closed.
Jones Lang LaSalle has identified four posh residential sites in Bangalore. The global real estate consultant has entered into final talks with two Bangalore-based developers.
If the talks turn in the way as JLL wants, the developers will be developing tow posh residential projects in the metropolitan city.
Segregated Funds Group of JLL is a new investment plan. The fund has already received the authorization form Securities and Exchange Board of India.
Segregated Funds Group aims to have investment in the Indian realty. Though last year itself it had the plan to invest in the market, it could not work out as the realty market was sluggish last year. Adding to it the global economic crisis too had its toll on the investment plans.
In the opinion of Jones Lang LaSalle, Bangalore’s residential market is one of the best for private equity investment. Last year the entire real estate sector was shadowed by sluggishness.
However this sluggishness could not cloud the grace of Bangalore residential market. This would be the main reason which prompted the real estate consultants to have investment in Bangalore itself.