MUMBAI: Gianesin Canepari & Partners (GC&P), an Italian business consulting company, is planning to bring in over Rs 600 crore investment into Indian real estate over the next five years, a top company executive said.
"Real estate industry in India is quite impressive as it has been growing by almost 15-20% every year, whereas back in Europe, it is declining by 5-10% per year; which makes India one of the big emerging markets for us," Alberto Canepari, GC&P's co-founder, told ET.
The investment will include setting up three residential projects in Kerala, Navi Mumbai and Indore. It plans to build Italian style high-end homes with ticket sizes ranging from Rs 4 to 10 crore.
"While the homes will be built here, we will bring the Italian technology, which means much quicker financial cycle and a mix of Indian and Italian architects to bring the typical Italian style and design," said Canepari, adding that the apartments are targeted at high networth individuals..
The company is currently looking to form a joint venture with land owners than acquiring real estate. "We don't want to own the land as there is a constraint from the RBI that a foreign company cannot buy the land or own it. So we will form a JV with the local land owner and share a portion of the revenue with them according to the value of land and project," said Alok Tiwari, CEO of GC&P India.
The company will route its investments in real estate through its Indian group company, Genesi Italia, he said. Canepari said the company will fund this investment through the revenue generated by its Italy operations and partly through Europe and Middle East investors.
"We expect to fetch around Rs 1,600 crore of revenue through the sale of apartments in Navi Mumbai and Kerala," Tiwari said. GC&P's core business in Italy is incubating startups and facilitating regular investment in small and medium enterprises.