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Construction World Magazine India | Canadian investors approach developers for tie-ups in Bengaluru
Canadian investors approach developers for tie-ups in Bengaluru
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Instead of developers approaching investors, many Canadian investors, including CPPIB, have reportedly been approaching several developers in south India. According to reports, these Canadian investors are working to court Prestige Estates, RMZ, DivyaSree Developers and others in a bid to gain from stable income and appreciation of Bengaluru’s rental commercial market.
Notably, Bengaluru’s central business district observed the highest rental appreciation in the country in 2017 at 17 per cent. According to a report by Colliers International, the city accounted for 34 per cent of the 9.5 million sq ft take up in Q2 of 2017. RMZ is looking to raise Rs 2,400 crore in the coming years from Qatar Investment Authority and Canadian pension fund manger CPPIB.
Similarly, investors are reportedly in talks with DivyaSree fevelopers but nothing conclusive has been decided yet.
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