Indian realty lures foreign investors

Mumbai, Oct 30 | Updated: Oct 31 2005, 05:57am hrs
With the boom in BPO and hotel industry, Indian commercial realty has caught the fancy of foreign investors. According to analysts, major international investors like US-based Warburg Pincus, Blackstone Group, Broadstreet Investment, Morgan Stanley Real Estate Fund (MSREF), Columbia Endowment Fund, Hines, Tishman Speyer, Sam Zell's Equity International, JP Morgan Partners and Amaranth Advisors have been enquiring to invest in real ty.

As a result, Indian commercial realty is expected to witness a new set of Indian and foreign investors to pump in Rs 14,000 crore ($3 billion), Jones Lang Lasalle, CEO, Peter Barge said. A few funds belonging to Warren Buffet's Berkshire Hathway are also interested.