Indian Real estate attracts HFs |
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October 11, 2007 |
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Indian real estate market is growing phenomenally and rewarding investors by giving 20-25% rate of return. According to Business Standard, Hedge Funds are lured by Indian real estate, and are putting huge amounts of money through equity stakes in listed and unlisted property developers, by teaming up with other investors in real estate projects or by investing in real estate funds floated for the Indian market. Some of the
major hedge funds operating in the Indian real estate sector
are Och-Ziff Capital, New Vernon Capital, Farallon Capital
Management, Marathon Realty, DE Shaw and Tiger Global.for a quick
flip. HF investments come through foreign direct investment (FDI)
rules, which require long-term lock-ups, and which allows investment
in real estate developments but prohibits investment in vacant
land. Business Standard reports that about two dozen U.S. funds,
including The Blackstone Group, Goldman Sachs and Citigroup Property
Investments are raising money for Indian real estate, which is
expected to be over USD 2 billion this year. |
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