GE Commercial Fin to invest $2 bn in Indian realty

GE Commercial Finance India, a non-banking financial company, plans to invest $2 billion by 2010 in Indian real estate to benefit from the rising demand for commercial and residential properties.

Its interest in the Indian real estate market includes equity investment at the project special purpose vehicle level, strategic equity in real estate development companies and fund-based investments.

Last year, the company invested $63 million in the Singapore-based property developer and asset manager Ascendas' newly formed fund for developing IT parks in the country, Tejpreet S Chopra, president & CEO of GE Commercial Finance India, said.

The company plans to grow its real estate business in the country through partnerships, both joint ventures and strategic equity with tier I and tier II developers having strong credentials in their respective markets, he said.
 
The company is planning a rapid build up of its commercial finance business in the country as it sees huge growth opportunities in real estate, construction, transporation, infrastructure, healthcare, energy and IT sectors, Chopra said.