Retail realty doubles investment to $1.2-bn in two years

Realty Sector
India's retail real estate sector attracted private equity investment worth $1.2 billion in the past two years, doubling from the previous two years, according to Anarock property consultant, attributing the sharp rise in private equity (PE) inflow to further liberalization of FDI policies such as 51% FDI in multi-brand retail and 100% in single-brand retail under the automatic route. Starting from an investment of $600 million during 2015-2016, private equity inflows in retail real estate jumped to over $1.2 billion between 2017 and 2018. Of the total $1.84 billion inflow in the last 4 years (2015-2018), tier II and tier III cities attracted nearly 48% funds ($880 million) against $960 million in tier 1 cities. Top favored tier II and III cities included Amritsar, Ahmedabad, Bhubaneshwar, Chandigarh, Indore and Mohali. As a matter of fact, the US-based funds like Blackstone and Goldman Sachs have invested more than $1 billion during 2015-2018, while UAE, Singapore, Canada and Netherlands based funds also remained active,. MD & CEO of Anarock Capital, Shobhit Agarwal, said that the report highlights the fact that unlike the commercial office sector, retail is to some extent geography-agnostic because its success depends on the spending power of its target audience.

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