Goldman Sachs plans to return to Indian real estate with investment worth $2 to $3 billion.
- ByStartupStory | December 4, 2021
Since its slender investment in Indian real estate over the last decade owing to the global financial crisis, the New York based investment bank is planning to make a comeback into the Indian real estate market by planning to invest $2 to $3 billion in the Indian real estate over the next three years. The move is part of the global investment bank’s plan to put in $30 billion in alternative investments in Asia over the next five years. According to a Bloomberg report, Goldman Sachs is looking to expand its presence in India, China and South Korea.
“They (Goldman) have been doing mostly credit deals in real estate in the last two or three years. Now, they want to do both equity and debt with a focus on high-yield products,” according to a source of MC. Goldman bought a Rs 2,000 crore loan of the Lodha Group from Piramal Capital and Housing Finance in 2019 and are in talks with two developers in Bangalore for platform deals.
The investment bank is also considering investing in data centers in the country. Goldman invested in Mumbai-based student housing operator Good Host Spaces, in which Warburg Pincus picked up a 24.48 percent stake early this year. In 2015, Goldman invested Rs 978 crore in Piramal Realty, the real estate company of the Ajay Piramal Group. It put in Rs 441 crore in SAMHI Hotels in 2016.
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