Indian property development receives investment boost

Overseas property options in Asia are set to increase in the coming years as it has been announced that an Indian real estate developer has received $65 million (£35.5 million) of investment from finance group Morgan Stanley.

The company focused the funds in Alpha G: Corp Development in a move which represents its second venture in the Indian property market.

According to Finance Asia, Morgan Stanley bought a stake worth $68 million in Mantri Developers, a company specialising in retail, residential and commercial projects, in March of this year.

This new investment, Alpha, was established in 2003 and has been involved in projects in the north and west of India, as well as developments in the business hub of Gurgaon.

Zain Fancy, executive director and head of Morgan Stanley Real Estate in Asia-Pacific, said: “We continue to believe India represents a compelling real estate investment opportunity and this investment is a continuation of our India strategy.”

Indian property could soon prove to be a popular option with overseas property investors, as it has already been domestically, with demand for residential properties in the country’s main employment centres currently on the rise.

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