By Ishita Russell
The proposed fund will be used to buy land parcels to develop residential projects across India.
The first WeWork office in Malaysia will have the capacity to accommodate 1,900 members, the largest in Southeast Asia.
Besides Chennai, the joint venture is looking at Mumbai, NCR, Pune, Bengaluru and Ahmedabad, and aims to develop a portfolio of 15 million sq. ft.
The deal will see Invesco acquiring over 1,000 units of Build-to-Rent (BtR) homes in London in Kew Bridge and Barking Wharf.
The private equity firm stepped in after Shapoorji Pallonji backed out from buying the 10-storey building in Mumbai’s latest financial district.
To set up base in the US, ARA will open an office in Dallas, led by industry veteran Jin Y. Lee.
In November, Indiabulls had said that it was selling a stake in two Gurugram office projects, but had not disclosed the investor’s name.
After banks trimmed their lending to the real estate sector in the past couple of years, developers received nearly half of their funding from NBFCs.
Walter Kwok’s wealth transfer is the latest in a family saga that includes a kidnapping, fallouts and corruption trials.
The investment is part of Allianz’s strategy to allocate 5-10 per cent of its real estate exposure to the Asia Pacific.