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Deutsche Bank arm to invest $1 bln in Indian real estate;forms jv with Nagarjuna
Added: (Tue Apr 29 2008)
Deutsche Bank's alternative investment management business, RREEF Alternative Investments (RREEF), plans to invest a further $1 billion over three years in
India's real estate and infrastructure sector, said a top company official.
Kishore Gotety, country head of RREEF India Advisors Private Ltd., said the company has invested about $70 million in another Indian company, Golden Gate
Properties Ltd., which is involved in primarily residential apartment projects in southern India.
RREEF said it has formed a 60:40 joint venture with Nagarjuna Construction Company Ltd.'s (NCC) unit, NCC Urban Infrastructure Ltd., to develop a $400
million realty development project in the southern Indian city of Hyderabad.
Kurt Roeloffs, chief executive officer, RREEF Asia Pacific, termed India as a particularly attractive emerging real estate and infrastructure market for high
return-oriented offshore clients. However, he said RREEF, which has country specific funds like Japan and Hong Kong, currently does not have specific plans
for an India specific fund.........
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