India, known as the world’s back office, could replace China as Asia’s biggest real estate investment destination, analysts say.
India is known for attracting multinational companies to set up global capability centers (GCCs) and is becoming a major investment magnet for many global companies, they said.
However, Asia’s third-largest economy is a major investment destination, as China and Japan have more developed ecosystems to foster investment, according to Ada Choi, head of Asia-Pacific research at CBRE. It will take time to solidify its position. Singapore’s GIC and partner Xander Group in May bought a 100% stake in Wavelock SEZ, a 2.4 million square foot office property in the southern city of Hyderabad, for about 22 billion rupees (US$262 million), agents said. ) was obtained.
CapitaLand India Trust, another Singapore-backed entity, has also acquired 100% stake in Phoenix Group’s IT building in Hitech City, Hyderabad.
Japan’s Daibiru Corporation is investing US$123.5 million in the development of Atrium Place, an office project near the capital Delhi.
