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-Judge allows $2 bln sale of NBA's Los Angeles Clippers to proceed
- Israel warns of long Gaza war as Palestinian fighters cross border
- UPDATE 6-Dollar Tree to buy Family Dollar to stave off competition
- Cricket - Moeen probed after sporting 'Save Gaza' wristbands
- UPDATE 5-Property website Zillow to buy rival Trulia to cut costs
Indian conglomerate Larsen & Toubro said on Monday revenue totalled 191.23 billion Indian rupees ($3.2 billion) in the first quarter, beating analyst forecasts, after a rise in orders from international clients. Full Article