MORGAN STALLEY REMAINS BULLISH ON INDIAN REALTY
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Delhi,
India
Saturday, November 22, 2008
The global economic slump and downturn in the real estate hasn't deterred Morgan Stanley Real Estate from going ahead with its India plan. It's planning to invest an additional $1billion over the next five years and has recently formed a large team for Indian operations. These investment plans-the company had earlier invested about $750 million in the India-come despite views that India could see fewer commercial investment transactions in the near term.
There is an opportunity to develop asset management expertise in real estate to help grow the property industry, said MD of Morgan Stanley Capital KK.
The company has formed a 12-member team for this purpose and has also appointed Naresh Naik to head the asset management division.
"Infrastructure is the key to support new residential, industrial and retail facilities. Limited institutional ownership of property means little asset management expertise exists outside of individual owner-users of property," said Williams.
Courtesy: ET Realty Nov 21,08
