08:02
International property players and equity firms from Malaysia, Singapore and other countries of Asia and West Asia are checking out the India market, following the government move to relax foreign investment norms in the real estate sector.
Many developers have even started discussions with foreign firms for a possible venture, according to two independent consultants tracking this space. “But, the deals are likely to be struck only after 6-12 months, FDI won’t start coming in immediately,” one of the consultants said.
A CEO of a leading developer based in Gurgaon confirmed that his company is talking to many foreign investors for launching their next few projects. This CEO, who refused to be identified, said: ”We have received a few proposals and we are evaluating. Our only concern is that foreign investors want fixed returns over a period of time, which might be difficult seeing the current situation of the realty market.”
The sector is sitting on a huge pile of inventory and with low sales and cash crunch, the FDI relaxation has come at the right moment, according to experts.
Read more original post: Global firms in talks to invest in Indian real estate
A CEO of a leading developer based in Gurgaon confirmed that his company is talking to many foreign investors for launching their next few projects. This CEO, who refused to be identified, said: ”We have received a few proposals and we are evaluating. Our only concern is that foreign investors want fixed returns over a period of time, which might be difficult seeing the current situation of the realty market.”
The sector is sitting on a huge pile of inventory and with low sales and cash crunch, the FDI relaxation has come at the right moment, according to experts.
Read more original post: Global firms in talks to invest in Indian real estate
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