Focus Key Words:
Morgan Stanley, Allianz in realty, logistics sector
Story: Global investors such as Morgan Stanley and German investor Allianz are reported to be getting into the Indian real estate and logistics sector with new ventures.
Morgan Stanley, which had almost exited Indian real estate, is now looking at setting up warehouses and logistics centres on the outskirts of main cities, newspaper reports have said.
It has already bought a land parcel in Pune for $20 million and its total investment could be around $100 million, the reports said.
Morgan Stanley, which had shifted all its Indian real estate investment to Proprium Capital set up in 2013, now manages its investments in Bengaluru-based Mantri Developers and Pune-based Panchshil, among others.
It is reported that German insurer Allianz is looking to set up a joint venture in logistics with Indian groups, after having tied up with Shapoorji Pallonji to set up a $500-million fund to invest in office properties in the country, sources said.