RREEF launches in India
DeutscheÆs property wing will operate in the subcontinent under the banner of RREEF India Advisors Private Limited.
RREEF Alternative Investments, the $90 billion property arm of Deutsche Bank, has launched a new operation in India. The new venture, named RREEF India Advisors Private Limited, will be run locally by country head Kishore Gotety. There will be a team of six to provide real estate and infrastructure advice to RREEFÆs funds.
At the same time, RREEF has announced that it will buy a 60% stake in a mixed-use property development in Hyderabad, where it will partner with NCC Urban. The project is located close to the international airport. It will take five years and will consist of commercial, residential and hotel space. This will complement its first Indian property venture, a $70 million stake in developer Golden Gate Properties.
ôClients still have a strong interest in India, but they are mindful that returns have to be risk adjusted," says RREEF Asia-Pacific CEO Kurt Roeloffs.
And what about the atrocious state of Indian infrastructure? Even if billions of dollars are poured into Indian property projects, the country is still lacking in suitable infrastructure.
ôThere are lots of gaps in infrastructure and it will take years to fill them,ö adds Roeloffs. ôYou canÆt just invest in good real estate projects without looking for the related stresses and strains in infrastructure and how that affects the urban geography. Every project has to take this into consideration.ö
At the same time, RREEF has announced that it will buy a 60% stake in a mixed-use property development in Hyderabad, where it will partner with NCC Urban. The project is located close to the international airport. It will take five years and will consist of commercial, residential and hotel space. This will complement its first Indian property venture, a $70 million stake in developer Golden Gate Properties.
ôClients still have a strong interest in India, but they are mindful that returns have to be risk adjusted," says RREEF Asia-Pacific CEO Kurt Roeloffs.
And what about the atrocious state of Indian infrastructure? Even if billions of dollars are poured into Indian property projects, the country is still lacking in suitable infrastructure.
ôThere are lots of gaps in infrastructure and it will take years to fill them,ö adds Roeloffs. ôYou canÆt just invest in good real estate projects without looking for the related stresses and strains in infrastructure and how that affects the urban geography. Every project has to take this into consideration.ö
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