Axiom
Call Us - 91 33 4020 4020  
Sign In  I  Sitemap   
AxiomEstates - India Real Estate
     India Properties Worldwide
Axiom Banner
 
Bookmark and Share
E-mail Print Tell A Friend


Residential Properties

 
 
Indian Real Estate News
Chicago Based Firm 'Vestian' to invest 1000cr in India
Source: realestate.avashya.com Feb 03, 2011
Chicago-based Vestian Global Workplace Services, an integrated real estate services provider, on Tuesday said it would invest 1,500 crore in India and China over the next 18 months. The company, which raised the fund from global investors, said about 70 per cent of the proposed investment was earmarked for the Indian market. "We have started interacting with the developers in India and once we have the SEC approvals in place, we will start investing," said Shrinivas Rao, CEO, Asia Pacific, Vestian Global Workplace Services.

Within India, the company will focus on three key southern markets including Bangalore, Chennai and Hyderabad. Globally, it is looking at development of commercial space in India, China and the MiddleEast. Explaining the increasing need for office workspace in Hyderabad despite ambiguity over a separate state, Rao said, "Within the last three quarters, about five million sq.ft office space has been absorbed by corporates creating about 50,000 jobs in Hyderabad."

According to estimates, office space of about 2.5 million sq.ft is lying vacant. "We are exploring investment potential in all categories including new ventures and distressed projects. Once the SEC approvals are in place by end of February, we hope to sign agreements with developers in the next three months," Rao said.

Tag: Bangalore, Chennai, Delhi, Foreign Direct Investment in India, Gurgaon, Home Loans, Kolkata, Mumbai, Noida, Pune, Real Estate Developers, Real Estate India
 Leave your comments
  
Comments

Citywise News
    All India
    Kolkata
    Mumbai
    Delhi NCR
    Bangalore
    Goa
    Pune
    Chennai
    Other Cities
News Category
    Home Loans
    Announcements
    Tax and Legal
    Policy
    Commercial
    Infrastructure
    FDI
    Developer
    Others
Axiom