Jones Lang LaSalle India's investment arm looks to raise its second real estate fund
Feb 18, 2014
Source : The Economic Times

 

 

MUMBAI/BANGALORE: Property consultancy firm Jones Lang LaSalle India's investment arm is looking to raise its second real estate fund with a total target size of around Rs 600 crore. The fund, to be raised in domestic market, will focus on investing in leased commercial assets across major office property markets in India, said two persons close to the development.

The global real estate services firm recently concluded its maiden real estate fund, Residential Opportunities Fund I, worth Rs 161 crore. Raised through its real estate investment management arm Segregated Funds Group, it will concentrate on the residential sector in India.

The close-ended fund will scout for leased office properties in commercial centers in India, including the Delhi-National Capital Region, Mumbai Metropolitan Region, Bangalore, Pune, Hyderabad, Kolkata and Chennai. The investment arm is planning to raise the fund after general elections in mid-2014.

"Jones Lang LaSalle Segregated Funds Group is exploring commercial office market space, but is yet to firm up a strategy," JLL's investment arm said while responding to ET's email query. While the real estate sector continues to be bogged down by weak sales and rising inventories, private equity players are keen to invest in the sector, especially in the commercial segment.

The growing interest of investors in commercial properties can be attributed to lease rentals and capital values of these properties that have weakened over the last three years. The momentum of deals in the commercial realty space is likely to increase in the coming year as availability of exit mechanism will improve with the Real Estate Investment Trusts (REITs) that seem to be a possibility in India now.

Investor interest in leased office buildings has been increasing over the past few years as investors are trying to cash in on the weakness in property prices.

 

 

 

 

 

Latest Realty News

Allotments for 900 plot owners in Gurgaon
Feb 17, 2014
DELHI: The HUDA administrator said the process will begin on February 17 and would go on for a week. Each day a specific plot size will be allotted in the draw. The plots will be given to those who had not been given land in Sector 56-57 due to litigations.
DDA to release 21,000 hectares for housing
Feb 17, 2014
DELHI: End users and investors will have great opportunities to buy houses in Delhi at relatively affordable prices. In the last one decade, growth in the National Capital Region (NCR) was mainly driven by the construction activities in the satellite town of Gurgaon and Noida. This was mainly because of unavailability of land in Delhi.
Building sealed in Chennai
Feb 17, 2014
CHENNAI: Officials of Chennai Metropolitan Development Authority on Friday sealed a building that was constructed without applications for planning permission.
CMDA Officals use Red Tape and Lapses as Anti-Graft Safety?
Feb 17, 2014
CHENNAI: Illegal construction in Chennai has been thriving due to corrupt Chennai Metropolitan Development Authority (CMDA) officials who allegedly have links to real estate agencies in different guises.
Will Illegal-Building-Infested T Nagar get 'Commercial' Escape?
Feb 17, 2014
CHENNAI: Chennai Metropolitan Development Authority is facing a hamletian dilemma on whether to act against illegal buildings or frame appropriate rules and guidelines after the High Court quashed two Government Orders (GO) that allowed regularisation of illegal buildings built till July 1, 2007.
DDA camps for mutation of property
Feb 17, 2014
DELHI: One of the biggest problem people face in dealing with the Delhi Development Authority (DDA) is when they have to convert the title of their property from leasehold to freehold. In a bid to clear as many pending cases as possible, DDA is holding a five-day special camp at its headquarter, starting Monday.
CM sets roads rolling to nowhere
Feb 17, 2014
BANGALORE: CM Siddaramaiah's allocation for Bangalore's roads - a surprising Rs 8,800 crore - is enough to beat Singapore's smooth network. The funds are earmarked for roads and related infrastructure, including road widening, elevated corridors, grade separators etc. But look close, and there's nothing concrete about the plans.
Karnataka Budget: Thrust on infrastructure
Feb 17, 2014
BANGALORE:The State government’s budget for 2014–15 proposes projects worth Rs. 9,476.86 crore for Bangalore to remove traffic bottlenecks, expand the public transport network, increase water supply lines and create new drainage pathways.
Bhubaneswar Development Authority gym plan stalled
Feb 17, 2014
BHUBANESWAR: A letter from state election commissioner Ajit Tripathy has put a question mark over the proposed gymnasium at Biju Patnaik Park here. He has asked the Bhubaneswar Development Authority (BDA) to stop the construction work and shift the project elsewhere.
Municipal corporation against house tax hike
Feb 17, 2014
CHANDIGARH: The municipal corporation (MC) has asked the UT administration to allow it to seek property tax from residents on the existing rates in the financial year beginning from April even though UT was pressing it to enhance the charges.

Latest Realty News Of State

Realty Talk's