India realty likely to see up to $5 bln PE exits in 2012
MUMBAI (Reuters) - Private equity PE.L funds are expected to exit between $3 billion and $5 billion worth of Indian real estate investments in 2012, international brokerage Jones Lang LaSalle said on Tuesday.
Most of these investments were made in the country in 2005/06 and are now coming to the end of their 5-7 year cycle, triggering the exit, the brokerage house said in a report.
Over the last four years, PE investors have already exited $3 billion worth of real estate investments, accounting for 23 percent of their total investments since 2005.
Developers are already struggling with a lack of financing options as property sales in major cities are flat with higher interest rates deterring potential homebuyers, cutting off cash to developers, many of whom have racked up high debt levels.
(Reporting By Aditi Shah; Editing by Rajesh Pandathil)
- Tweet this
- Share this
- Digg this
- UPDATE 3-Avalanche kills at least 12 guides in deadliest incident on Mount Everest
- UPDATE 10-Vice-principal of South Korea school in ferry disaster commits suicide
- Mediterranean diet may slow diabetes progression
- UPDATE 5-U.S. further delays final decision on Keystone XL pipeline
- India passes halfway mark in election with BJP gaining strength
Nitin Gadkari, former president of the Bharatiya Janata Party and a member of the BJP’s manifesto committee, speaks to Reuters. Here are the edited excerpts. Full Article
Turning smog into jewels - a Dutch designer's solution to Beijing's pollution. Video