BENGALURU: Godrej Fund Management (GFM), the real estate private equity arm of Godrej Group, plans to raise a new fund of up to $500 million to invest in and build office properties, and is in talks with new overseas investors, said a top company executive. The new fund comes a year after GFM raised its $450 million ‘Build to Core’ office development fund and a $150 million office investment fund, which has been fully deployed. Godrej’s new fund comes at a time when India’s commercial office market has been hit due to the pandemic, but continues to attract long-term investor interest. “We continue to be bullish on the office market and have ramped up our office platform rapidly, and will expand it further. Bolaria said the new fund will also focus on these four key markets and the strategy remains the same, which is to buy land and build office properties.

Source: Mint September 20, 2020 09:00 UTC