Temasek Holdings is for the first time considering investment in real estate as an asset class in India. Last year, private equity-owned real estate funds invested $5 billion in India, which is the highest since the 2008 financial crisis, according to investment advisory firm Venture Intelligence.
The Singapore government-owned company is one of the largest investors in India, with a net investment portfolio of about $9 billion, or five per cent of its $179-billion global portfolio. “We are hopeful to tap real estate assets in India,” said Ravi Lambah, co-head India, Temasek International. “It is a more recent development that we have been looking at it. We have done a few such investments outside last year and now we are evaluating it in India.” Temasek’s plan to invest in the real estate space comes after sister concern GIC emerged as one of the largest investors for the asset class in the country in the last couple of years.