PE firms eyeing office, retail segment in Bengal
- Country:
- India
Global private equity firms are looking for opportunities in office and retail space in the
real estate sector in West Bengal after a successful stint in the logistics segment, a property consultant said on Friday.
"Global private equity firms are seriously planning to put their money in office and retail (in real estate) segment
in West Bengal," CBRE India managing director Nikhil Bhatia told PTI.
Blackstone, Brookfield, KKR, GIC, ESR, Warburg Pincus Avendus Capital, Goldman Sachs and Xander Group are among
companies which are "evaluating right opportunities" in the state, another official of the property consulting firm said.
"In West Bengal, warehouse absorption stood at 3.3 million sqft in 2019, marginally lower than 3.4 million sqft,
absorbed in the previous year," the official said. In 2019, office leasing in Kolkata has recorded a
sharp growth totalling 1.3 million sqft of commercial space, he said.
Leasing activities in the last calendar year were driven by IT majors and banks that had taken up new office
space in the city's satellite townships, the official said. Bhatia said similar trend will continue in the current
year with fresh interests from the global private equity firms.
PE firms' interests in the residential sector are also set to grow in the coming years, he added.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
INSIGHT-Obscure trust links India's top businesses with Modi's election war chest
Citing India, US lawmakers vote on bill to regulate TikTok ownership
Four, including three Indians, arrested while entering US illegally from Canada
Indian American indicted in a Ponzi scheme
Navarro beats Sabalenka in 3 sets, Gauff advances to quarters on her birthday at Indian Wells