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This story is from April 8, 2006
Global realty funds make a beeline for city
Global real estate funds are making a beeline for Pune to make sure that they get a share in the city's booming real estate pie.
"Almost every real estate fund ��� big and small ��� in the country is looking at investing in Pune," said Shobhit Agarwal, head of the investment division of international real estate agency Trammell Crow Meghraj.
This is because of the growing number of IT and ITES companies setting up shop in the city and shooting up the real estate demand, he said.
Also, because of its huge talent pool and proximity to Mumbai, Pune is attracting huge number of IT/ITES companies. Consequently, almost all the leading builders and developers in the city are finding that funds are knocking their doors ��� left, right and centre.
"Around seven to eight foreign and Indian real estate funds are talking to us. But we will enter into a partnership only if we see a synergy, be it in terms of area of expertise or access to customers, not just for money," said Manish Jain, director of Kumar Properties.
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