+
Godrej Fund Management can now develop office assets worth over $ 1 billion
Real Estate

Godrej Fund Management can now develop office assets worth over $ 1 billion

Godrej Fund Management (GFM), the real-estate private equity arm of the Godrej Group, has announced the second and final close of its $ 450 million office development platform. Across Godrej Build to Core-I (GBTC-I) and the existing core fund, GFM can now invest in or develop office assets worth over $ 1 billion in value.

With this development, the assets under management for GFM have crossed the $ 1.6-billion mark across asset classes. GBTC-I is a ‘club-style’ office investment platform that invests in developing world-class, Grade-A office buildings in leading locations across the key office markets of India. The platform has now partnered with Allianz Real Estate (Allianz), which has committed another $ 150 million to the platform. It has already secured two developments, one each in Mumbai and Gurugram, totalling 2 million sq ft. 

“We are pleased to partner with Allianz Real Estate and APG Asset Management on our office development platform, GBTC-I,” says Karan Bolaria, Managing Director & CEO, GFM. “With its strategic combination of investment management and development management capabilities, GFM is ideally positioned to deliver on the opportunity that exists in Grade-A offices in India.”

And Rushabh Desai, CEO - Asia-Pacific, Allianz Real Estate, says, “We continue to believe in the long-term growth prospects of the Indian economy. We are excited about this new partnership. Godrej is one of the most trusted brands in India with a successful track record in the office space. We are confident the platform will deliver upon completion a premium office product that is increasingly sought after by multinational tenants operating in India.” 
  
The platform currently has a strong pipeline of assets with an aim to fully deploy the capital within a timeframe of the next 12-18 months.

Godrej Fund Management (GFM), the real-estate private equity arm of the Godrej Group, has announced the second and final close of its $ 450 million office development platform. Across Godrej Build to Core-I (GBTC-I) and the existing core fund, GFM can now invest in or develop office assets worth over $ 1 billion in value.With this development, the assets under management for GFM have crossed the $ 1.6-billion mark across asset classes. GBTC-I is a ‘club-style’ office investment platform that invests in developing world-class, Grade-A office buildings in leading locations across the key office markets of India. The platform has now partnered with Allianz Real Estate (Allianz), which has committed another $ 150 million to the platform. It has already secured two developments, one each in Mumbai and Gurugram, totalling 2 million sq ft. “We are pleased to partner with Allianz Real Estate and APG Asset Management on our office development platform, GBTC-I,” says Karan Bolaria, Managing Director & CEO, GFM. “With its strategic combination of investment management and development management capabilities, GFM is ideally positioned to deliver on the opportunity that exists in Grade-A offices in India.”And Rushabh Desai, CEO - Asia-Pacific, Allianz Real Estate, says, “We continue to believe in the long-term growth prospects of the Indian economy. We are excited about this new partnership. Godrej is one of the most trusted brands in India with a successful track record in the office space. We are confident the platform will deliver upon completion a premium office product that is increasingly sought after by multinational tenants operating in India.”   The platform currently has a strong pipeline of assets with an aim to fully deploy the capital within a timeframe of the next 12-18 months.

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?