Godrej Fund Management (“GFM”), the real estate private equity arm of the Godrej Group, has announced the second and final close of its US$ 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 US$ 1 billion in value.
The Uttar Pradesh Cabinet has reportedly approved the construction of a six-lane Ganga Expressway. Worth Rs 360 billion, the expressway is expected to connect Meerut in western Uttar Pradesh to Prayagraj in the east.
A progressive workplace is about understanding and embracing the new standards of a more agile and interconnected workforce. Recent surveys have found a correlation between office design and the bottom-line.
After a few years of reduced focus on retail real estate largely due to the limited supply across India, private equity (PE) players are again focussing on these assets with over US$ 724 mn invested in 2017 (through September) alone. Compared to the total investment of US$ 1.57 billion witnessed between 2015 and September 2017, this chunk shows how the PE focus is changing as they aim to diversify their portfolios.
The target: To reach a green footprint of 1,000 crore sq ft in India and become the world's No. 1 by 2022. And according to scorecard of the Indian Green Building Council, we have achieved 4.63 billion sq ft to date.