Delhi-NCR's real estate market has attracted highest private equity investment of $633.3 million during January-June period of this year as investors look to encash high demand for prime office space and luxury housing, according to Cushman & Wakefield.
In its latest capital market report, real estate consultant Cushman & Wakefield mentioned that Delhi-NCR attracted $633.3 million of inflows during the first six months of this calendar year.
Out of the total investment in Delhi-NCR, office assets received $483.6 million, while residential $149.6 million.
The consultant noted that the surge in investments in Delhi-NCR has been primarily driven by the office segment, with major equity buy-outs by prominent fund houses. Residential sector in the city has also seen continued interest specially in the high-end and luxury segment.
Across six major cities, the total investment in real estate stood at $3.9 billion during January-June 2024. Multi-city deals dominated fund inflow at nearly $1.9 billion. Bengaluru attracted $509.5 million, Hyderabad $319.9 million, Chennai $234.7 million, Pune $151.7 million and Mumbai $147 million.
Somy Thomas, Managing Director, Valuation & Advisory and Capital Markets, Cushman & Wakefield, said, "$3.9 billion of private equity inflows during the first half of 2024, already surpassing 70 per cent of last year's total, highlights the remarkable growth and investor confidence in India's real estate market." This surge is primarily driven by infrastructure-related sectors like logistics and industrial, fuelled by significant public investments in multi-modal economic corridors, Thomas said.
"Additionally, strong demand for office and residential spaces further solidifies the market's appeal. With continued positive momentum, we anticipate a buoyant year for private equity investments in the commercial real estate sector, potentially exceeding initial expectations," Thomas added.
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