OKAS to raise $500 mn for affordable homes and office space projects
OKAS, the DMI Group's real estate private equity division, is now seeking $500 million for its second real estate fund, which will invest in affordable housing and office space projects. 11 million square feet of space were under construction in the first fund, which invested $250 million across 20 real estate projects in Gurgaon, Noida, Lucknow, and Bangalore.
"We have completely finished a few of these projects, and a few more are nearing completion. The goal is to finish all of these projects within the next 24 to 30 months, according to DMI co-founder Shivashish Chatterjee. The ticket amount for the forthcoming deployment will be between Rs 50 and Rs 150 crore.
New Investment Solutions, a Liechtenstein-based asset management firm that led the first round in 2018, is the primary investor in the second fund. With this second fund, we're dedicated to strengthening our involvement in both residential and commercial development and expanding the OKAS and Pardos brands, according to Chatterjee.
The company previously made investments totaling Rs 120 crore in the Pardos OKAS residential project in Sector 90 of Gurgaon, Rs 80 crore in the Sector 74 office space project in Gurgaon, Rs 120 crore in the Whitefield office space project in Bengaluru, and Rs 160 crore in the Pardos OKAS residential project in Lucknow.
Yuvraja C. Singh, co-founder of DMI, noted that Indian real estate buyers have evolved into more discriminating consumers who demand not only a high-quality product and prompt delivery but also transparency, consistency, and accountability.
CBRE estimates that real estate investments in India would reach a record high of $7.8 billion in 2022, up 32% from the previous year. Real estate investments in the nation totaled $2.3 billion in the three months leading up to December 2022, a rise of 115% year over year and 64% quarter over quarter.
With a 57% share of the total investment volume in 2022, foreign investors took the lead. Mumbai was second in terms of investment activity, after Delhi-National Capital Region. The two cities collectively received more than 56% of all investments in 2022. With a 48% share of investments, land and development sites took the lead, followed by the office market (35%). In site and land acquisition, about 44% of the capital inflows were used for residential developments, and 25% for mixed-use ones.
"We have completely finished a few of these projects, and a few more are nearing completion. The goal is to finish all of these projects within the next 24 to 30 months, according to DMI co-founder Shivashish Chatterjee. The ticket amount for the forthcoming deployment will be between Rs 50 and Rs 150 crore.
New Investment Solutions, a Liechtenstein-based asset management firm that led the first round in 2018, is the primary investor in the second fund. With this second fund, we're dedicated to strengthening our involvement in both residential and commercial development and expanding the OKAS and Pardos brands, according to Chatterjee.
The company previously made investments totaling Rs 120 crore in the Pardos OKAS residential project in Sector 90 of Gurgaon, Rs 80 crore in the Sector 74 office space project in Gurgaon, Rs 120 crore in the Whitefield office space project in Bengaluru, and Rs 160 crore in the Pardos OKAS residential project in Lucknow.
Yuvraja C. Singh, co-founder of DMI, noted that Indian real estate buyers have evolved into more discriminating consumers who demand not only a high-quality product and prompt delivery but also transparency, consistency, and accountability.
CBRE estimates that real estate investments in India would reach a record high of $7.8 billion in 2022, up 32% from the previous year. Real estate investments in the nation totaled $2.3 billion in the three months leading up to December 2022, a rise of 115% year over year and 64% quarter over quarter.
With a 57% share of the total investment volume in 2022, foreign investors took the lead. Mumbai was second in terms of investment activity, after Delhi-National Capital Region. The two cities collectively received more than 56% of all investments in 2022. With a 48% share of investments, land and development sites took the lead, followed by the office market (35%). In site and land acquisition, about 44% of the capital inflows were used for residential developments, and 25% for mixed-use ones.
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