India: High-profile investment
India, Singapore and Hong Kong led the Asia Pacific commercial real estate transaction volumes that have reached US$35 billion in Q3 2017, according to real estate consultancy JLL. JLL, which specializes in real estate and investment management with offices in…

India, Singapore and Hong Kong led the Asia Pacific commercial real estate transaction volumes that have reached US$35 billion in Q3 2017, according to real estate consultancy JLL.

JLL, which specializes in real estate and investment management with offices in 80 countries, is a Fortune 500 company with revenues of $6.8 billion and fee earnings of $5.8 billion.

On behalf of clients, it has managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion.

In a recent report it said it has seen a series of high-profile investments into Indian real estate by institutional players including the one by the real estate arm of German insurer and asset manager Allianz.

It announced in October that it is partnering with Indian Sharpoorji Pallonji Group to establish a fund worth US$500 million, targeting the office market in India. JLL advised Sharpoorji Pallonji Group on the transaction.

Stuart Crow, Head of Asia Pacific Capital Markets, JLL, says: “Emerging economies such as India are attracting the attention of global investors and developers, who are keen on the growing population and subsequent urbanisation.”

“India is the standout in Asia Pacific, and the top picks for investors include Mumbai, NCR and Bangalore, with more than two-thirds of total investments flowing into these cities,” said Ashutosh Limaye, Head of Research, JLL India. Most of this capital is flowing into office assets – both core and core plus – and residential assets under development, he said.

Real estate transaction volumes reached US$2 billion in India in Q3, with Singapore sovereign wealth fund GIC’s US$1.4 billion joint venture with DLF Cyber City Developers forming one of the largest cross-border purchases in the regional real estate market in the quarter. The joint venture involved a portfolio of office and retail assets across India in August.

 

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