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Morgan Stanley's got an eye on India
The world's biggest ever property fund, which is estimated to raise USD 8 bn, has India firmly on its radar. Morgan Stanley's latest property fund could pour in big bucks into Indian real estate reports CNBC-TV18.
The world's biggest ever property fund, which is estimated to raise USD 8 billion, has India firmly on its radar. Morgan Stanley's latest property fund could pour big bucks into the Indian real estate market reports CNBC-TV18.
The rush of foreign money into the Indian real estate market shows no sign of abating. Sources say that Morgan Stanley is planning its single biggest property fund in the world property fund market.
While 75% of the funds raised would be deployed in developed markets including Japan, 25% or USD 2 bIillion could make way primarily to China and India. Morgan Stanley has acquired real estate assets worth USD 73 billion and manages property worth USD 43 billion worldwide.
In India, the firm recently completed Rs 300 crore in investments with Bangalore based Mantri developers and the new fund would mean more dollars flowing in.
Morgan Stanley officials say that they are bullish on India and are looking at big ticket deals. Never mind the lack of clarity on norms for real estate venture funds, global real estate funds seem to continue their fancy for India.
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The rush of foreign money into the Indian real estate market shows no sign of abating. Sources say that Morgan Stanley is planning its single biggest property fund in the world property fund market.
