NRI Real Estate and Property Investment in India
 |  WWW.NRIREALTYNEWS.COM
 
Protego to launch a $400 mn Indian office fund
Friday, October 26, 2007

British investment management group Protego Real Estate Investors LLP has announced that it hopes to raise up to $400 million of equity to launch a speculative Indian office development fund called the ‘Protego WIRE Indian Office Development Fund.’

It is a closed-ended, seven-year fund which will invest primarily in office development projects in tier one and tier two cities in India. It plans to raise $150 million of seed equity by the end of the fund's first closing in February and net returns in the region of 25 per cent.

Designed in joint venture with WIRE Commercial Partners, a unit of Singaporean property services company WIRE Group Also on the agenda is an Indian office investment fund by June 2009 that will complement the development venture. This fund will have the option to complete developments at the market valuation and acquire other assets as appropriate.

Charles Weeks, head of business development at Protego informed that there is a huge primary demand for quality office space by international corporates – arising out of the cost benefit from outsourcing global IT. Demand for Indian office space may increase in the region of 30 percent and 35 percent per annum compounded.

Apparently, the wire group sees a high probability of closing with investing in real estate India and creating a pipeline of projects and has identified a list of potential tenants to fill these projects.

Add to your Social Bookmarks:
ADD TO DEL.ICIO.US ADD TO DIGG ADD TO FURL ADD TO NEWSVINE ADD TO NETSCAPE ADD TO REDDIT ADD TO STUMBLEUPON
ADD TO TECHNORATI FAVORITES ADD TO SQUIDOO ADD TO WINDOWS LIVE ADD TO YAHOO MYWEB ADD TO ASK ADD TO GOOGLE  

 

 

Return to India

NRI INSURANCE

NRI SERVICES

 

Indian Cities Guide

DELHI   NOIDA   GHAZIABAD
         
GURGAON   MUMBAI   AHMEDABAD
         
KOLKATA   CHENNAI   HYDERABAD
         
BANGALORE   PUNE   CHANDIGARH
         
..More cities »
NRI Communities in Different Countries  
Indian Embassies & Consulates in Different Countries
 
NRI Newsletters  
NRI Feeds - Syndications