Investors ready $1 billion war chest for office assets in India

Foreign private equity and pension funds among investors that have committed to invest more than Rs 6,016.50 crores to buy or build commercial property in India

Foreign private equity funds and pension funds are among investors that over the last 12 months have committed to invest more than Rs 6,016.50 crores to buy or build commercial property in India as the government works to finalise rules governing real estate investment trusts (REITs).

-In June, Brookfield paid about Rs 3,300 crores for a 60% stake in six parks from Unitech Corp Parks and a 40% stake in four of the six from Unitech Ltd .

-In May, The Xander Group, an emerging markets investor, partnered with a consortium of investors lead by Dutch pension fund asset manager APG Asset Management N.V. to invest Rs 1,805.25 crores, with an option to increase it to $500 million, to buy leased office assets in big cities including Mumbai and Delhi.

-In November, Singapore warehouse and industrial park developer Ascendas Pte Ltd announced plans to invest in Indian real estate, focussing on office space, with a target asset size of Rs 3,609,90 crores. Singapore's sovereign wealth fund GIC will be a key investor.

-In November, Canadian Pension Plan Investment Board said it would invest $200 million in an 80 percent joint venture with Mumbai-based developer, Shapoorji Pallonji Group to buy leased office buildings.

-In July, Qatar Investment Authority decided to invest Rs 1,805.25 crores in a special purpose vehicle formed by developer RMZ Corp to buy and build leased office assets, mainly in south India. Baring Private Equity has a 21% stake in the vehicle which it bought in 2012 for Rs 500 crores.