Godrej Fund Management raises $500 mn from premium offices

22 Dec 2021 CW Team

Godrej Fund Management (GFM) has announced that it raised $500 million for the development of premium office assets. It also announced the final closure of its $500 million office development fund, Godrej Build to Core II (GBTC).

As per a statement, the company will develop Grade-A office assets of over $1.5 billion on completing the project and the total value of assets, including the funds that will overtake the portfolio value on completion to over $3 billion.

The Private-equity (PE) company has joined with APG Asset Management and Allianz Real Estate to develop office assets in prime office locations in India.

The company had invested in one development asset in Bangalore, which had a development potential of 1.1 million sq ft.

After the final closure of office assets, the company has successfully raised three office asset funds and five overall funds.

CEO and Managing Director of GFM, Karan Bolaria, said that the company plans to invest in the development of office assets in prime locations in Indian office markets to achieve the best risk-adjusted returns for our partner companies.

CEO of Allianz Real Estate, Rushabh Desai, told the media that the Indian office market has remained strong throughout the Covid-19 pandemic.

Managing Director of APG Asset Management Asia, Graeme Torre, said that the Grade-A office asset in India is a strategic focus for its portfolio in the region.

GFM is a PE arm of Godrej Group and a wholly-owned subsidiary of Godrej Investment Advisers Private Limited. It has a capital of over $1.6 billion in five funds.

Image Source

Also read: Hyderabad likely to add 4.6 mn sq ft office space in Q4 FY22

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..