Shapoorji Pallonji, Abu Dhabi to fund office space

This is third such alliance for Shapoorji Pallonji after tie-ups with CPPIB, Germany's Allianz group

Construction major Shapoorji Pallonji had tied up with the Abu Dhabi Investment Authority (ADIA), a sovereign fund, to invest in commercial properties in the country, source said.

The combine would invest in large office properties in big cities, the source added. 

This is the third such alliance for Shapoorji Pallonji after tie-ups with the Canada Pension Plan Investment Board (CPPIB) and Germany’s Allianz group. The group’s real estate fund management arm, Shapoorji Pallonji Investment Advisors, is expected to take part in the joint investments.

The source clarified that the ADIA and Shapoorji Pallonji had not set up a joint venture (JV) but would