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Investors have infused $1 bn in stressed real estate assets: JLL India CEO

It is the housing segment that presents "the maximum amount of stressed assets", Nair said

Press Trust of India 

real estate
Early this month, the Centre approved a Rs 25,000- crore fund to help complete over 1,500 stalled housing projects

have invested $1 billion in in during the current year and more such transactions are expected with 87 companies in the sector facing liquidation, a property consultant said on Wednesday.

The residential segment with stalled projects worth $66 billion provides opportunities to these investors, JLL India CEO and country head Ramesh Nair said in a statement.

"have made a solid start by investing $1 billion in stressed opportunities (in 2019)," he said.

In the current scenario, it is the housing segment that presents "the maximum amount of stressed assets", Nair said.

Moreover, corporate, saddled with huge debt, have been scouting for liquidating assets, he said.

A stressed asset deal has been the sale of an IT park in Bengaluru by Caf Coffee Day Enterprise Ltd for $359 million, the consulting firm said. JLL also listed deals like acquisition of the 90-acre, IT-focused Global Village Tech Park and Hotel Leela Venture's key properties in Delhi, Bangalore, Udaipur and Chennai for $564 million.

Early this month, the Centre approved a Rs 25,000- crore fund to help complete over 1,500 stalled housing projects, including ones that have been declared NPAs or admitted for insolvency proceedings.

First Published: Wed, November 20 2019. 19:51 IST
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