JP Morgan raises $360 Million India Real Estate Fund

JP Morgan which downgraded India just last week has quietly raised $360 million through its India property fund. The fund is the first of its kind by a FII to invest in the Indian Real Estate sector.

The objective of the fund is to team with local developers in New Delhi, Mumbai, Bangalore, Kolkatta, Chennai and Hyderabad. he fund might also invest in emerging cities like Mysore, Jaipur etc. Joe Azelby global head of JP Morgan Real estate said that,

India is experiencing extraordinary growth in real estate demand and is arguably one of today's most compelling real estate investment opportunities. Investors are now seeking higher returns from emerging markets like India where there is enormous potential for growth and superior returns.

Very interesting, JP Morgan Equities downgrade India while their counterpart in Real Estate is upbeat on India. Morgan brothers, if Indian industry won't do well will it's real estate ;-)

JP Morgan India ,
India Real Estate Fund