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Home arrow News arrow Indian Real Estate Firm is Morgan Stanley's New Investment
Indian Real Estate Firm is Morgan Stanley's New Investment Print E-mail
Tuesday, 18 July 2006
Tuesday, Morgan Stanley, the world's biggest securities firm by market value said that it has invested about 3 billion rupees, or $64 million, in Alpha G:Corp Development, an Indian real estate company. 

Alpha, an affiliate of the G:Corp Group based in New Delhi, develops, manages and markets real estate projects, according to the statement. Rising demand for homes, offices and shopping malls is attracting banks such as New York-based Morgan Stanley and Goldman Sachs Group into India's real estate market, as the government eases rules on investment from overseas. Morgan Stanley Real Estate, which manages about $51 billion in property assets for its clients, said in March it invested 3 billion rupees in Mantri Developers, a Bangalore-based developer. 

Alpha, founded in 2003, has projects in Gurgaon, Amritsar, Jaipur, Ahmedabad and other Indian cities, according to the statement. Morgan Stanley, the world's biggest securities firm by market value, said Tuesday that it has invested about 3 billion rupees, or $64 million, in Alpha G:Corp Development, an Indian real estate company. Alpha, an affiliate of the Corp Group based in New Delhi, develops, manages and markets real estate projects, according to the statement. 

Rising demand for homes, offices and shopping malls is attracting banks such as New York-based Morgan Stanley and Goldman Sachs Group into India's real estate market, as the government eases rules on investment from overseas. Morgan Stanley Real Estate, which manages about $51 billion in property assets for its clients, said in March it invested 3 billion rupees in Mantri Developers, a Bangalore-based developer. 
Alpha, founded in 2003, has projects in Gurgaon, Amritsar, Jaipur, Ahmedabad and other Indian cities, according to the statement.  


By M. Sese
http://realestatepress.org

 
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