Indian commercial realty expands footprint, continues to defy global odds

Attracting investments from private equity firms even as the Western markets are witnessing a slowdown

Indian commercial real estate is attracting investments from private equity (PE) firms even as the Western markets are witnessing a slowdown.

US-based PE major Blackstone says the Indian market is different from others as local companies here are expanding and require more office space.

“This is probably one of the few markets in the world where we've seen rents grow and vacancies decline in the last 12 months. This is another sign of India's strength,” Blackstone’s president and chief operating officer (COO) Jon Wray said in an interaction with the media.

Indian developers said the availability of high-quality assets, reduced